According to a BNA news release, the Senate approved today the Hiring INcentives to Restore Employment Act, HR 2847, on a 68-29 vote. since it approved the bill as passed by the House, no further conferencing is necessary and the bill is next up for President Obama's signature.
The HIRE act includes a payroll tax holiday for employers with respect to new hires, tax credits for long-term retention of employees, fiddles with tax credit bonds (allowing direct payment), and enacts a (too) generous section 179 expensing. To pay, it includes more offshore compliance provisions, delays worldwide interest allocation even longer (that is a "reform" provision that should never have been enacted in the first place, given the fungibility of money), and fiddles around some more with the timing for corproate estimated tax payments (a gimmick to accelerate payments into earlier tax years for counting for the "pay go" provision).
UPDATE: for more information on passage of HIRE Act (with some information on international provisions) see this update on A Taxing Matter: HIRE Act: passed and signed (Mar. 18, 2010).
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