On March 18th, President Obama signed into law the “Hiring Incentives to Restore Employment” (HIRE) Act.
Essentially, this bill is a tax break for businesses:
1. If a company hires a worker who has been employed for at least 60 days, the company will not have to pay the 6.2% Social Security payroll tax during 2010.
2. If the new employee is retained for at least one year, the company will receive an additional $1,000 tax credit.
Theoretically, these tax breaks should encourage businesses to hire more workers.
The total cost of the bill is estimated to be $18 billion.
While the current focus of Congress is on healthcare, over 15 million Americans are still waiting for legislation regarding unemployment extensions and COBRA benefits. Hopefully, this should be on the horizon before the end of March.
na
Thanks for providing such an incredible article, that was a great read. Keep up the good work.
Thanks for sharing. Very good informative post.
Very nice sharing thanks/26.02.2011 01:07:40
Terrific work! This is the type of information that should be shared around the web. Shame on the search engines for not positioning this post higher! Come on over and visit my web site . Thanks =)
Please excuse our my English speak, I’m just schooling. I very much like your website very much, I find it worth it to read and I saved a bookmark of it in our computer memory.