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The American Jobs Act

The American Jobs Act



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The purpose of the American Jobs Act is simple: put more people back to work and put more money in the pockets of working Americans – without adding a dime to the deficit.
The purpose of the American Jobs Act is simple: put more people back to work and put more money in the pockets of working Americans – without adding a dime to the deficit.

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Published by: LA County Democratic Party on Sep 10, 2011
Copyright:Attribution Non-commercial


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 AmericAn Jobs Act
tAx cuts to Help AmericA’s smAll businesses Hire And Grow
puttinG workers bAck on tHe Job wHile rebuildinG And modernizinG AmericA 
pAtHwAys bAck to work for AmericAns lookinG for Jobs
tAx relief for every AmericAn worker And fAmily 
fully pAid for As pArt of tHe president’s lonG-term deficit reduction plAn
Cttin the par ta ct in haf fr 98 percent f binee:
The President’s plan will cut in half the taxespaid b businesses on their first $5 million in paroll, targeting the benefit to the 98 percent of firms that haveparoll below this threshold.
A cmpete par ta hia fr ae rer r increae ae:
The President’s plan will completeleliminate paroll taxes for firms that increase their paroll b adding new workers or increasing the wages oftheir current worker (the benefit is capped at the first $50 million in paroll increases).
Etenin 100% epenin int 2012:
This continues an effective incentive for new investment.
Refrm an reatr rectin t hep entreprener an ma binee acce capita.
A “Retrnin Here” hirin ta creit fr eteran:
This provides tax credits from $5,600 to $9,600 toencourage the hiring of unemploed veterans.
Preentin p t 280,000 teacher aff,
while keeping cops and firefighters on the job.
Merniin at eat 35,000 pbic ch acr the cntr,
supporting new science labs, Internet-readclassrooms and renovations at schools across the countr, in rural and urban areas.
Immeiate inetment in infratrctre an a bipartian Natina Infratrctre Ban,
moderniing our roads,rail, airports and waterwas while putting hundreds of thousands of workers back on the job.
A Ne “Prect Rebi”
, which will put people to work rehabilitating homes, businesses and communities,leveraging private capital and scaling land banks and other public-private collaborations.
Epanin acce t hih-pee iree
as part of a plan for freeing up the nation’s spectrum.
The mt innatie refrm t the nempment inrance prram in 40 ear:
As part of an extensionof unemploment insurance to prevent 5 million Americans looking for work from losing their benefits, thePresident’s plan includes innovative work-based reforms to prevent laoffs and give states greater flexibilit touse UI funds to best support job-seekers, including:
UI for workers whose emploers choose work-sharing over laoffs.
 A new “Bridge to Work” program:
The plan builds on and improves innovative state programs wherethose displaced take temporar, voluntar work or pursue on-the-job training.
Innovative entrepreneurship and wage insurance programs:
States will also be empowered to implementwage insurance to help reemplo older workers and programs that make it easier for unemploedworkers to start their own businesses.
A $4,000 ta creit t emper fr hirin n-term nempe rer.
Prhibitin emper frm icriminatin aaint nempe rer
when hiring.
Epanin b pprtnitie fr -incme th an at
through a fund for successful approaches forsubsidied emploment, innovative training programs and summer/ear-round jobs for outh.
Cttin par tae in haf fr 160 miin rer net ear:
The President’s plan will expand the parolltax cut passed last ear to cut workers paroll taxes in half in 2012 – providing a $1,500 tax cut to the tpicalAmerican famil, without negativel impacting the Social Securit Trust Fund.
Ain mre American t refinance their mrtae at ta’ near 4 percent interet rate,
which can putmore than $2,000 a ear in a famil’s pocket.
The President will release a detailed deficit reduction plan in the coming days that will pay for every penny of the American Jobs Act and include additional deficit reduction sufficient to stabilize our debt as a share of our economy.He will also call on the Joint Committee come up with the additional deficit reduction necessary to pay for the American Jobs Act and still meet their deficit target.
 AmericAn Jobs Act
The American people understand that the economic crisis and the deep recession weren’t created overnight and won’t be solved overnight. The economic security o the middle class has been under attack or decades. That’s why PresidentObama believes we need to do more than just recover rom this economic crisis – we need to rebuild the economy the American way, based on balance, airness, and the same set o rules or everyone rom Wall Street to Main Street. Wecan work together to create the jobs o the uture by helping small business entrepreneurs, by investing in education, and by making things the world buys. The President understands that to restore an American economy that’s built to last wecannot aord to outsource American jobs and encourage reckless fnancial deals that put middle class security at risk.To create jobs, the President unveiled the American Jobs Act – nearly all o which is made up o ideas that have beensupported by both Democrats and Republicans, and that Congress should pass right away to get the economy movingnow. The purpose o the American Jobs Act is simple: put more people back to work and put more money in the pocketso working Americans. And it would do so without adding a dime to the defcit.
1 tAx cuts to Help AmericA’s smAll businesses Hire And Grow
The President is proposing three taxcuts to provide immediate incentives to hire and invest:
Cttin the Par Ta Ct in Haf fr the Firt $5 Miin in wae:
This provision would cut the paroll taxin half to 3.1% for emploers on the first $5 million in wages, providing broad tax relief to all businesses buttargeting it to the 98 percent of firms with wages below this level.
Temprari Eiminatin Emper Par Tae n wae fr Ne wrer r Raie fr Eitin wrer:
The President is proposing a full holida on the 6.2% paroll tax firms pa for an growth in their paroll upto $50 million above the prior ear, whether driven b new hires, increased wages or both. This is the kind of job creation measure that CBO has called the most effective of all tax cuts in supporting emploment.
Etenin 100% Epenin int 2012:
The President is proposing to extend 100 percent expensing, thelargest temporar investment incentive in histor, allowing all firms – large and small – to take an immediatededuction on investments in new plants and equipment.
The President’s planincludes administrative, regulator and legislative measures – including those developed and recommended b thePresident’s Jobs Council – to help small firms start and expand. This includes changing the wa the governmentdoes business with small firms. The Administration will soon announce a plan to accelerate government paments tosmall contractors to help put mone in their hands faster. The President is also charging his CFO and CTO to, within90 das, stand up a one-stop, online portal for small businesses to easil access government services. As part of thePresident’s Startup America initiative, the Administration will work with the SEC to conduct a comprehensive reviewof securities regulations from the perspective of these small companies to reduce the regulator burdens on smallbusiness capital formation in was that are consistent with investor protection, including expanding “crowdfunding”opportunities and increasing mini-offerings. Finall, the President’s plan calls for Congress to pass comprehensivepatent reform, increase guarantees for bonds to help small businesses compete for infrastructure projects and toremove burdensome withholding requirements that keep capital out of the hands of job creators.

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The American Jobs Act

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