HIRE Act Payroll Tax Exemption and TAx Credit Program May Be Extended
Treasury Department released a report on August 2,
2010, which included state-by-state estimates of eligible hires related to the HIRE
Act tax exemption. The report, which was released at
a news conference in Albany, N.Y., said 5.6 million workers who were unemployed for
at least eight weeks were hired from February to June of this year by employers who
were eligible for the HIRE Act tax exemption.
Charles E. Schumer (D-N.Y.) and Rep. Paul Tonko (D-N.Y.) told the news conference
that they will sponsor bills to extend the HIRE Act beyond its expiration date of
Dec. 31, 2010. “The Hire Now tax cut has proven to be a timely, targeted, and
effective job creator, helping middle class Americans find work,’’ Sen. Schumer said
in a statement.
10 States that have benefited from the HIRE Act tax exemption by number of new hires:
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