Tax Breaks For Employees Who Hire.
After tackling the massive health care reform bill, the President is now (and has been, in between tasks) trying to get America back to work.
The president plans to sign the HIRE Act, a jobs bill that will encourage businesses to hire and help put Americans back to work and restore the economy.
"Through the eyes of economists, you look at the different stages of recovery. You look at whether an economy has begun to grow. At whether businesses have begun to hire temporary workers or increase the hours of existing workers. At whether businesses, small and large, have begun to hire full-time employees again."
While the economy has seen an uptick in the number of constructions jobs being filled and the number of temporary workers being hired, many cities still face unemployment.
In a radio address on Tuesday, Congressman John Conyers stated his home town of Detroit has a 30% unemployment rate.
To that point, the president says, "The jobs bill I’m signing today – and our broader efforts to achieve a recovery – aren’t about politics. They’re not about Democrat versus Republican. This isn’t some game. They’re about the people in this country who are out of work and looking for a job; they’re about all of the Americans – of every race, region, and age – who’ve shared their stories with me."
What The Jobs Bill Will Mean
The tax bill can be outlined in this fashion.
Forgive the payroll taxes for businesses that hire someone who’s been out of work for at least two months – a tax benefit that will apply to unemployed workers hired between last month and the end of this year. This tax cut says to employers. "If you hire a worker who’s unemployed, you won’t have to pay payroll taxes on that worker for the rest of the year. And businesses that move quickly to hire today will get a bigger tax credit than businesses that wait until later this year."
Encourage smaller businesses to grow and hire by permitting them to write off investments they make in 2010. The bill will allow business to immediately write off business purchases if they hire. In an example, the president used a business that spends $250,000 on factory equipment - which would take years to depreciate - will now under the new jobs bill, be able and write it off right away.
Reform municipal bonds to encourage job-creation by expanding investment in schools and clean energy projects. Using the Build America Bonds as an example for towns that hire to rebuild schools, the bill will make it easier to raise the money. "We’ll give Americans a better chance to invest in the future of their communities and of our country".
Finally, this jobs bill will maintain crucial investments in our roads and bridges as we head into the spring and summer months, when construction jobs are picking up.
The jobs bill may not be enough, as the president points out, but it's a start in the right direction.
Now, where are those companies that are taking advantage of this new bill? I need a media job.
Employers, advertise your company's jobs on our site.
After tackling the massive health care reform bill, the President is now (and has been, in between tasks) trying to get America back to work.
The president plans to sign the HIRE Act, a jobs bill that will encourage businesses to hire and help put Americans back to work and restore the economy.
"Through the eyes of economists, you look at the different stages of recovery. You look at whether an economy has begun to grow. At whether businesses have begun to hire temporary workers or increase the hours of existing workers. At whether businesses, small and large, have begun to hire full-time employees again."
While the economy has seen an uptick in the number of constructions jobs being filled and the number of temporary workers being hired, many cities still face unemployment.
In a radio address on Tuesday, Congressman John Conyers stated his home town of Detroit has a 30% unemployment rate.
To that point, the president says, "The jobs bill I’m signing today – and our broader efforts to achieve a recovery – aren’t about politics. They’re not about Democrat versus Republican. This isn’t some game. They’re about the people in this country who are out of work and looking for a job; they’re about all of the Americans – of every race, region, and age – who’ve shared their stories with me."
What The Jobs Bill Will Mean
The tax bill can be outlined in this fashion.
Forgive the payroll taxes for businesses that hire someone who’s been out of work for at least two months – a tax benefit that will apply to unemployed workers hired between last month and the end of this year. This tax cut says to employers. "If you hire a worker who’s unemployed, you won’t have to pay payroll taxes on that worker for the rest of the year. And businesses that move quickly to hire today will get a bigger tax credit than businesses that wait until later this year."
Encourage smaller businesses to grow and hire by permitting them to write off investments they make in 2010. The bill will allow business to immediately write off business purchases if they hire. In an example, the president used a business that spends $250,000 on factory equipment - which would take years to depreciate - will now under the new jobs bill, be able and write it off right away.
Reform municipal bonds to encourage job-creation by expanding investment in schools and clean energy projects. Using the Build America Bonds as an example for towns that hire to rebuild schools, the bill will make it easier to raise the money. "We’ll give Americans a better chance to invest in the future of their communities and of our country".
Finally, this jobs bill will maintain crucial investments in our roads and bridges as we head into the spring and summer months, when construction jobs are picking up.
The jobs bill may not be enough, as the president points out, but it's a start in the right direction.
Now, where are those companies that are taking advantage of this new bill? I need a media job.
Employers, advertise your company's jobs on our site.
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