American Jobs Act

A mericanJobsAct.com

AmericAn Jobs Act
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tAx cuts to Help AmericA’s smAll businesses Hire And Grow

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Cutting the payroll tax cut in half for 98 percent of businesses: The President’s plan will cut in half the taxes
paid by businesses on their first $5 million in payroll, targeting the benefit to the 98 percent of firms that have
payroll below this threshold.
Acomplete payroll tax holiday for added workers or increased wages: The President’s plan will completely
eliminate payroll taxes for firms that increase their payroll by adding new workers or increasing the wages of
their current worker (the benefit is capped at the first $50 million in payroll increases).
Extending 100% expensing into 2012: This continues an effective incentive for new investment.Reforms and regulatory reductions to help entrepreneurs and small businesses access capital.

2 puttinG workers bAck on tHe Job wHile rebuildinG And modernizinG AmericA
• A “Returning Heroes” hiring tax credit for veterans: This provides tax credits from $5,600 to $9,600 to
encourage the hiring of unemployed veterans.

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Preventing up to 280,000 teacher layoffs, whilekeeping cops and firefighters on the job.
Modernizing at least 35,000 public schools across the country, supporting new science labs, Internet-ready
classrooms and renovations at schools across the country, in rural and urban areas.
Immediate investments in infrastructure and a bipartisan National Infrastructure Bank, modernizing our roads,
rail, airports and waterways while putting hundreds ofthousands of workers back on the job.
A New “Project Rebuild”, which will put people to work rehabilitating homes, businesses and communities,
leveraging private capital and scaling land banks and other public-private collaborations.
Expanding access to high-speed wireless as part of a plan for freeing up the nation’s spectrum.

3 pAtHwAys bAck to work for AmericAns lookinG for Jobs
• Themost innovative reform to the unemployment insurance program in 40 years: As part of an extension
of unemployment insurance to prevent 5 million Americans looking for work from losing their benefits, the
President’s plan includes innovative work-based reforms to prevent layoffs and give states greater flexibility to
use UI funds to best support job-seekers, including:
» Work-Sharing: UI forworkers whose employers choose work-sharing over layoffs.
» A new “Bridge to Work” program: The plan builds on and improves innovative state programs where
those displaced take temporary, voluntary work or pursue on-the-job training.
» Innovative entrepreneurship and wage insurance programs: States will also be empowered to implement
wage insurance to help reemploy older workers and programs thatmake it easier for unemployed
workers to start their own businesses.

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A $4,000 tax credit to employers for hiring long-term unemployed workers.
Prohibiting employers from discriminating against unemployed workers when hiring.
Expanding job opportunities for low-income youth and adults through a fund for successful approaches for
subsidized employment, innovative trainingprograms and summer/year-round jobs for youth.

4 tAx relief for every AmericAn worker And fAmily
• Cutting payroll taxes in half for 160 million workers next year: The President’s plan will expand the payroll
tax cut passed last year to cut workers payroll taxes in half in 2012 – providing a $1,500 tax cut to the typical
American family, without negatively impacting the Social Security TrustFund.

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Allowing more Americans to refinance their mortgages at today’s near 4 percent interest rates, which can put
more than $2,000 a year in a family’s pocket.

5 fully pAid for As pArt of tHe president’s lonG-term deficit reduction plAn
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...