The Work Opportunity Tax Credit: A Fact Sheet

Publication Date: April 1998

Publisher: Library of Congress. Congressional Research Service

Author(s):

Research Area: Banking and finance

Type:

Abstract:

The 104th Congress replaced the Targeted Jobs Tax Credit (TJTC, 1978-1994) with the Work Opportunity Tax Credit (WOTC) in section 1201 of the Small Business Job Protection Act of 1996 (P.L. 104-188). The temporary credit was to have been effective for one year (October 1, 1996 through September 30, 1997). WOTC would have expired on October 1, 1997 had the 105th Congress not reauthorized it in the Taxpayer Relief Act of 1997 (P.L. 105-34).