April 9, 2025
Mr. Vasquez introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to allow an increased work opportunity credit with respect to veterans, and for other purposes.
Section 1. Short title
This Act may be cited as the Honor and Hire Veterans Act of 2025
.
Sec. 2. Work opportunity credit for veterans
(a) In general
Section 51(a) of the Internal Revenue Code of 1986 is amended by striking equal to
and all that follows and inserting the following:
equal to—
(1)
in the case of a qualified veteran, 50 percent of the qualified first-year wages for such year, and
(2)
in all other cases, 40 percent of the qualified first-year wages for such year.
(b) Increased limitation on wages taken into account for veterans
Section 51(b)(3) of such Code is amended—
(1)
by striking $12,000
and inserting $18,000
,
(2)
by striking $14,000
and inserting $21,000
, and
(3)
by striking $24,000
and inserting $36,000
.
(c) Conforming amendments relating to individuals not meeting minimum employment periods
Section 51(i)(3)(A) of such Code is amended by striking employer
and all that follows and inserting the following:
employer—
(i)
subsection (a)(1) shall be applied by substituting
25 percentfor50 percent, and(ii)
subsection (a)(2) shall be applied by substituting
25 percentfor40 percent.
(d) Effective date
The amendments made by this section shall apply to individuals who begin work for the employer after the date of the enactment of this Act.