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American Jobs Act Update – December 2, 2011

Last week, President Obama signed into law the Vow to Hire Heroes Act. This new law covers one of the many proposals put forth in the American Jobs Act.

 

American Jobs Act – background

Back in September, the President introduced the American Jobs Act, which had four primary areas of job creation:

  • Construction: Projects to improve basic infrastructure, roads, and schools will help employ thousands of workers in construction related fields.
  • Teachers: Aid to state and local governments will help keep teachers employed by using funds to prevent layoffs.
  • Veterans: Businesses will be given tax credits for hiring returning veterans.
  • Long-Term Unemployed: Employers will receive a $4,000 tax credit for hiring long-term unemployed workers. Note: They are defining “long-term” as six months or more.

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In addition, the American Jobs Act would allow for an extension of unemployment benefits through the end of 2012.

Over the last couple of months, the American Jobs Act has not received enough support on its own in order to be passed into law. Recently, specific components of the legislation, e.g. support for veterans, have been brought forth on an individual basis.

 

Vow to Hire Heroes Act

The legislislation enacted yesterday addressed the aspect of the American Jobs Act that addresses the 850,000 American veterans who are out of work. Specifically, it provides an incentive for businesses to hire veterans: A $2,400 tax credit for hiring veterans who have been out of work for four months, and a $5,600 tax credit for hiring veterans who have been out of work for six months or longer.

Of note, this bill received a unanimous vote of 422 to 0 in the House of Representatives.

While veterans represent fewer that 10% of Americans who are out of work, the passage of this bill may encourage Congress to consider further aspects of the American Jobs Act.

 

 

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4 comments to American Jobs Act Update – December 2nd

  • sandra dangerfield

    I was beaten and left for dead 2yrs ago, the man i didnt know, and he got 75yrs for what he did to me . and yes he hurt 2 other house holds and was charge for them also, i return to work and in 3 months my department was shut down. i applied for victam assistance, to be told since your company paid $15,000 towards your doctor/hospital bills,we can’t help you, you are not eligible, which now it leaves me with over $12,000 to pay. I have no money to file for bankruptcy, as when i was recieving unemployment benifits , i had to pay rent and utility bills. I look for a job every day and this is a new day for me as no job possibilites are out there thus far,and i trust that the president would help all americans not just the most recent unemployed.and more over he is looking at those people that was hired for less than 2months and again they will be laid off again , since the holiday is over and most that was hire got less than 20hrs a week for the holiday work, if he would call each employer that did the massive hiring and see how many they are keeping for the new year , i assure you he would not have over 1% that obtained perm employment. We need to focus on our on country instead of tipping in other areas of the would , and remember we are in need here at home very badly, and i am not dead beat.We do not help the homeless , the hungry ,sick not the unemployed but for a very short period of time. And last but not least if a person go to work get that good job , do a good days work for a days pay, then those should recieve assistance.

    May God Bless Us All!!

  • maria v

    all people long term 99′s should all have a year extension expecially in states 8 to 13 per cent unemployment, las vegas california, and any other state 12 weeks is good but what happens after the 12 weeks and you still haven’t found a job. we use this money to pay bills and we have to pay the taxes on it aswell so
    the money goes back into the system we are not getting free money
    like most people think. wait until they are in our position
    and they will think different. everybody push for the long term unemployed 99ers and just the long term.

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