Washington, D.C. – On Monday, Congressman Darin LaHood (R-IL-16) led a Ways and Means Committee American Workforce Tax Team Roundtable on the Work Opportunity Tax Credit (WOTC) in Peoria, Illinois with the Critical Labor Coalition.
The roundtable is a part of an effort by Ways and Means Committee Republicans to get outside of Washington, D.C. and study key provisions from the 2017 Trump tax cuts, also known as the Tax Cuts and Jobs Act (TCJA), that are set to expire in 2025 and identify legislative solutions to support working families and small businesses.
The American Workforce Tax Team, led by Rep. LaHood, is looking at ways to improve workforce hiring and retainment, childcare and paid leave incentives, and education through the tax code. The American Workforce Tax Team roundtable provided an opportunity for local small businesses in Peoria to discuss the positive impacts of the WOTC, which allows small businesses to invest in local job seekers who may face barriers to employment, such as veterans or individuals on social welfare programs.
LaHood and the Critical Labor Coalition were joined by local Peoria small businesses including, Avanti's, Conn's Hospitality Group, Mercedes Restaurants, Burger King, and GOT JOBS America, LLC.
"The Tax Cuts and Jobs Act generated the best economy in my lifetime, reducing and simplifying taxes for working families, creating jobs, bringing companies back to America, and strengthening our competitive posture towards China," said Rep. LaHood. "With key provisions set to expire in 2025, Congress cannot allow Illinois families, workers, and small businesses to get hit with a tax hike. As the American Workforce Tax Team lead and Chairman of the Work and Welfare Subcommittee, our conversation today provided critical insight on the importance of protecting the Work Opportunity Tax Credit and strengthen the credit to bolster our local workforce and small businesses. I am grateful to the Critical Labor Coalition for their leadership on this issue, and I look forward to working with them and my colleagues on the Ways and Means Committee to put forth pro-growth tax policy that allows our communities in Illinois to thrive."
"The Work Opportunity Tax Credit (WOTC) has been a vital tool in helping small businesses and job seekers overcome barriers to employment," said Misty Chally, Executive Director of the Critical Labor Coalition. "As workforce shortages persist, the WOTC provides an essential pathway for small businesses to invest in local talent, strengthen communities, and foster economic growth. We are committed to working with Congressman LaHood and the American Workforce Tax Team to ensure that this credit continues to benefit both workers and businesses across Illinois and beyond."
Background:
- The House Ways and Means Committee is the oldest committee in Congress and has sole jurisdiction over tax policy.
- In 2017, Congress passed the Tax Cuts and Jobs Act (TCJA), which Rep. LaHood supported. The legislation was the largest tax cut for workers and small businesses in a generation, building record economic growth.
- In 2025, much of TCJA is set to expire, including provisions that reduced taxes for workers and families.
- In April, Republicans on the House Ways and Means Committee set up ten “Tax Teams” to study key tax provisions from TCJA that are set to expire and identify policy solutions to protect Americans and generate a pro-growth economy.
- Congressman LaHood is the Chair of the American Workforce Tax Team, which is looking at ways to improve workforce incentives, childcare and paid leave incentives, and education tax policy, among other tax policies.
- Congressman LaHood also serves on the Community Development Tax Team, which is looking at issues like housing tax policy and the affordable housing crisis.
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