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Hire Act
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Hire Act
Forum
Positives
Hire Act
Overview of Law
Provides payroll tax exemptions and business tax credits for businesses that hire certain unemployed workers.
Hire Act Benefits & Positives
Date
Positive Result\Benefit
Rank
03/18/10
Social Security payroll tax credits in 2010 for employers that hired people who have been unemployed for 60+ days
03/18/10
Tax credits to employers who keep new hires for 52 weeks to encourage retention of new hires
03/18/10
$17.5 billion in tax cuts, business credits and subsidies for state and local construction bonds to stimulate business investment and hiring
03/18/10
$20 billion to the highway trust fund for spending on highway and transit programs.
03/18/10
Encourages job creation by expanding investments in schools and clean energy projects
03/18/10
Offsets costs through a 30 percent withholding tax on income from certain U.S. financial assets held by foreign banks who have not agreed to disclosures.
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