Wyatt Employment Law Report

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Senate Sends Jobs Bill to President for Signature

By Kim Koratsky

A 68-29 vote in the Senate will send a bill to President Obama that will offer tax breaks to employers who hire the unemployed.  The bill, which passed March 16, offers $18 Billion in tax breaks and pumps $20 Billion into highway and transit programs.  Under this new legislation, businesses that hire the unemployed will be exempt from the 6.2 percent Social Security payroll tax through December and employers can receive an additional $1,000 credit if the new workers stay on the job a full year.  Beyond these provisions, the bill also extends the highway and mass transit programs through the end of the year.  President Obama has promised to sign the legislation.