Employment Law Updates | New Proposed Legislation
March 2, 2010
Massive Bipartisan Job-Creation Bill Pushed in the Senate
Hiring Incentives to Restore Employment Act
H.R. 2847, S. 3310, 2/11/2010
The draft Hiring Incentives to Restore Employment (“HIRE”) Act of 2010 is a bipartisan legislative proposal authored by Sens. Max Baucus, D-Mont., and Chuck Grassley, R-Iowa, and seeks to provide hiring incentives for employers and extend unemployment benefits.
In a memorandum dated February 11, 2010, the Senate Finance Committee enumerated a number of major features of the proposed legislation, among which are the following:
Schumer-Hatch Jobs Payroll Tax Exemption. This provision would offer an exemption from social security payroll taxes for every worker hired in 2010 that has been unemployed for at least 60 days. The maximum value would be equal…
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