Today the House passed a Jobs bill that Credit, is one-tenth the size of the bill introduced late last year. However the Senate is still pushing forward on their own $15o Billion Jobs bill.
The house bill includes a Democratic drafted provision which allows for a payroll tax “holiday” for hiring previously unemployed workers. Ironically the $1,000 to $5,000 hiring credit considered earlier in the process was removed from the final bill.
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/04/AR2010030402757.html?hpid=topnews
The Senate bill is much larger in scope and cost since it includes various “extenders” of existing tax breaks, state medicare “gap” funding and other individual benefits such as unemployment compensation.
http://online.wsj.com/article/BT-CO-20100303-716657.html?mod=WSJ_latestheadlines
For information on existing federal and state hiring credits, pleas click on the following:
