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S 2983 111th Congress Senate Taxation Employment taxes Government trust funds Income tax credits Social security and elderly assistance Social work, volunteer service, charitable organizations Unemployment Wages and earnings

Hire Now Tax Cut Act of 2010

Introduced: February 4, 2010 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 4, 2010
Read twice and referred to the Committee on Finance.
Feb 4, 2010
Introduced in Senate
 Plain-English summary Congressional Research Service

Hire Now Tax Cut Act of 2010 - Amends the Internal Revenue Code to: (1) exempt for-profit and nonprofit employers from social security taxes in 2010 for new employees who are hired after February 3, 2010, and before January 1, 2011, and who certify that they have not worked more than 40 hours during the last 60 days; and (2) allow an increase in the general business tax credit for the retention of such employees for at least one year at specified wage levels.

Appropriates to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund under title II of the Social Security Act amounts necessary to cover any reduction in revenues resulting from the tax exemptions provided by this Act.

What's happening now February 4, 2010

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1