The American Jobs Act and You
Last night, September 8th, 2011, President Obama addressed Congress and the nation, unveiling his new stimulus plan: The American Jobs Act.
What does this plan entail, when will it be implemented, and, most importantly, how does it impact you?
The primary focus of the American Jobs Acts is new jobs. Specifically, the President highlighted four areas where the program will stimulate 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.
Extension of Unemployment Benefits
Another important aspect of the American Jobs Act is an extension of unemployment benefits until the end of 2012. This extension continues the benefits put in place last year (up to 99 weeks of total benefits, depending on your state). These extensions were set to expire at the end of 2011.
At the present time, additional weeks beyond the 99 week total have not yet been discussed as part of this program.
In order for the changes proposed in the American Jobs Act to take effect, Congress must pass the legislation. President Obama expects there to be support for the program from both Democrats and Republicans. That said, it is fair to assume there will be some debate on various aspects of the proposals leading up to the voting, which is expected to take place this month.
Important: Did You Know?
Over 60% of companies & recruiters* will looking into your credit history when you are applying for a job. In this ultra-competitive job environment, if you don’t know your score, you will be at a disadvantage …
Do you know your score? You should be aware that over 70% of all credit reports have some sort of error. If you catch it, you can fix it.
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* According to a recent survey by the Society of Human Resources Management