Earlier this month, President Obama announced the American Jobs Act. Its purpose is simple: put more people back to work and put more money in the pockets of working Americans, all without adding to the deficit. One key highlight is the expansion of the payroll tax cut that passed last year. By cutting workers’ payroll taxes in half in 2012, a typical household in New Hampshire—with a median income of around $64,000—will receive a tax cut of about $1,980.
The American Jobs Act will also create pathways back to work for Granite Staters who are currently out of a job. In addition to extending unemployment insurance for 1,700 people looking for work in the state, reforms to unemployment insurance could help put 18,000 long-term unemployed folks back to work.
These are just a few of the ways that the American Jobs Act will help rebuild our economy. Visit AmericanJobsAct.com for more information about how it will help communities across New Hampshire.