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Work Sharing Provision an Essential Part of Payroll Tax Cut Bill – Economic Intelligence (usnews.com)

Job Market Monitor

This week, Congress passed the Middle Class Tax Relief and Job Creation Act of 2012 that carried the essential provisions of work sharing bills proposed by Sen. Jack Reed and Rep. Rosa DeLauro. The bill would have the federal government pick up some of the expenses associated with state work sharing programs, thereby giving them more incentive to promote work sharing.

This is a rare victory of common sense and bipartisanship in Washington. The existing unemployment insurance system tends to encourage layoffs, since unemployed workers can typically collect benefits equal to half of their wages. Work sharing, or short-time compensation as it referred to in the bill, allows workers who had their hours reduced to receive benefits equal to half of their reduction in pay. From the standpoint of the worker, the employer, and the economy as a whole, it is likely to be a better outcome if workers can be kept on the job working shorter hours rather than being laid off.

usnews.com

Source: usnews.com

Read More @ Work Sharing Provision an Essential Part of Payroll Tax Cut Bill – Economic Intelligence (usnews.com).

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  1. Pingback: Trends in Canada’s Payroll Taxes « Global Job Gap, Local Skills Gap - April 16, 2012

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