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
Cttin the par ta ct in haf fr 98 percent f binee:
The President’s plan will cut in half the taxespaid b businesses on their first $5 million in paroll, targeting the benefit to the 98 percent of firms that haveparoll below this threshold.
A cmpete par ta hia fr ae rer r increae ae:
The President’s plan will completeleliminate paroll taxes for firms that increase their paroll b adding new workers or increasing the wages oftheir current worker (the benefit is capped at the first $50 million in paroll increases).
Etenin 100% epenin int 2012:
This continues an effective incentive for new investment.
Refrm an reatr rectin t hep entreprener an ma binee acce capita.
A “Retrnin Here” hirin ta creit fr eteran:
This provides tax credits from $5,600 to $9,600 toencourage the hiring of unemploed veterans.
Preentin p t 280,000 teacher aff,
while keeping cops and firefighters on the job.
Merniin at eat 35,000 pbic ch acr the cntr,
supporting new science labs, Internet-readclassrooms and renovations at schools across the countr, in rural and urban areas.
Immeiate inetment in infratrctre an a bipartian Natina Infratrctre Ban,
moderniing our roads,rail, airports and waterwas while putting hundreds of thousands of workers back on the job.
A Ne “Prect Rebi”
, which will put people to work rehabilitating homes, businesses and communities,leveraging private capital and scaling land banks and other public-private collaborations.
Epanin acce t hih-pee iree
as part of a plan for freeing up the nation’s spectrum.
The mt innatie refrm t the nempment inrance prram in 40 ear:
As part of an extensionof unemploment insurance to prevent 5 million Americans looking for work from losing their benefits, thePresident’s plan includes innovative work-based reforms to prevent laoffs and give states greater flexibilit touse UI funds to best support job-seekers, including:
UI for workers whose emploers choose work-sharing over laoffs.
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 unemploedworkers to start their own businesses.
A $4,000 ta creit t emper fr hirin n-term nempe rer.
Prhibitin emper frm icriminatin aaint nempe rer
Epanin b pprtnitie fr -incme th an at
through a fund for successful approaches forsubsidied emploment, innovative training programs and summer/ear-round jobs for outh.
Cttin par tae in haf fr 160 miin rer net ear:
The President’s plan will expand the parolltax cut passed last ear to cut workers paroll taxes in half in 2012 – providing a $1,500 tax cut to the tpicalAmerican famil, without negativel impacting the Social Securit Trust Fund.
Ain mre American t refinance their mrtae at ta’ near 4 percent interet 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.