Employment News
Jobs Bill Moves Forward in U.S. Senate
By victor | Dated: 02-23-2010
A $15-billion jobs package was moved forward in the U.S. Senate Monday by a 62-30 vote. The highlight of the measure is a stipulation that gives tax breaks to companies that hire unemployed workers.Final passage of the bill, which did receive some bipartisan support, is expected to come up for vote within the next few days, the Wall Street Journal reports.
According to the bill, companies that hire unemployed workers would not be subject to a 6.2 percent payroll tax in 2010 and if the new hire is kept on for one year the company would receive a $1,000 tax break.
Other bill highlights includes a clause that would allow businesses to write off depreciation of new equipment more quickly; and the extension of funding for highway and transit construction.
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