P.L. 111-147, The Hiring Incentives to Restore Employment Act (57 comments ↓ | 22 wiki edits )
- This item is from the 111th Congress (2009-2010) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 2847 is "jobs legislation" that would exempt from payroll taxes paid by employers the wages of certain individuals hired in 2010, provide an additional business tax credit for firms that retain such individuals for at least one year of employment, increase allowable expensing in 2010 for certain depreciable business assets, amend the treatment of interest paid in connection with issuances of certain tax credit bonds, and modify rules applicable to foreign accounts and the allocation of interest expenses on the part of corporations with worldwide activities.