Employment Law Report
Proposed New Tax Breaks For Employers
By a 70-28 vote, the Senate passed a new jobs bill, sending the bill back to the House for final approval. Democrat leaders promise more jobs bills are on the way. This bill contains two major provisions. First, it would exempt, through December, businesses hiring the unemployed from the 6.2 percent Social Security payroll tax, then give those businesses an additional $1,000 credit if new workers stay on the job a full year. Second, it would extend highway and mass transit programs through the end of the year and put $20 Billion into them in hopes of creating new construction jobs.