Number: 111- 36
Date: March 10, 2010
The House Passes H.R. 2847,
Hiring Incentives to Restore Employment (HIRE) Act
On March 4, 2010, the House amended and passed H.R. 2847, the “Hiring Incentives to Restore Employment (HIRE) Act” with a bipartisan vote of 217-201. The House added provisions to comply with the pay-as-you-go budget rules. The bill now returns to the Senate which passed its version on February 24, 2010, as described in Legislative Bulletin 111-34 .
Payroll Tax Forgiveness for Hiring Unemployed Workers
• Would amend the Internal Revenue Code to exempt qualified employers from paying the employer share of OASDI tax on wages paid a newly- hired employee who had previously been unemployed.
• Would be effective with respect to wages for employment after the date of enactment and before January 1, 2011.