The American Jobs Act has five key components:

  • 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
  • More Money in the Pockets of Every American Worker and Family
  • Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan

The American Jobs Act will impact payroll and hiring significantly if passed.  Some payroll related items include a social security rate decrease to 3.1% for both employers and employees, tax credits for businesses that hire long term unemployed workers, and a helping hand for veterans.

The comprehensive fact sheet can be found at The White House – American Jobs Act Fact Sheet and Overview

Read the Bill: The American Jobs Act