Corporate Voices had two significant successes on Capitol Hill last week. Congressman Charles Rangel (D – NY), Chairman of the House Ways and Means Committee, introduced a bill Thursday, Sept. 25, that would provide a tax credit to companies that hire disconnected youth. Corporate Voices for Working Families and its partner companies have identified this tax incentive as a critical element of an alternative pathway for disconnected youth. We are delighted to see this recommendation move one step closer to law.
Earlier in the week Corporate Voices in conjunction with the American Business Collaboration played a key role leading to the introduction of legislation aimed at increasing the spending limits on Dependent Care Flexible Spending Accounts (DCFSA).
Regarding the legislation involving a tax credit, we will continue to work with Congressman Rangel and others on the House Ways and Means Committee to ensure that the bill is re-introduced in the 111th Congress and that it is passed into law. We expect the congressman to hold hearings on this issue early next year. Corporate Voices will also be working to craft an additional proposal that would provide a smaller incentive to companies that target early work experiences – mentoring programs, apprenticeships and internships – to disconnected youth.
We appreciate the strong support that we have received on this issue from members of our legislative committee and others, including Accenture, Marriott, TJX, CVS and H-E-B Grocery.