By now you have heard all you have ever wanted to hear about the jobs bill but that doesn’t mean you mean or know a thing about it. What does it mean and what is it going to do for the regular folk who have been on hard times for as long as they, or anyone else, cares to remember? Let’s take a look into this bill and find out what it all really means.
This might be the biggest and most progressive movement in the presidents bill. As it currently stands there are a great number of businesses that half to pay payroll tax. What this means is that the more money they spend on payroll the more they have to pay in taxes. However the government is looking to cut that in half and that will be a welcome change. This means that companies may be willing to spend more on staffing with some of that savings.
Adding New Workers
New workers really are going to help out businesses. It might not seem that way but that with the new jobs bill there would be a payroll tax holiday for those who are added on to a payroll. This means that if you own a business and you want to bring on new employees you’ll be getting a tax break. This is also looked at as a way for some of the small businesses to grow.
These are just a couple of the proposed payroll changes to that would come about as a result of the jobs bill. It’s a progressive moment that is sure to raise debate over the next year as it works its way through congress.