To amend the Internal Revenue Code of 1986 to reduce the employer portion of payroll taxes in the case of employers who expand payroll in 2010 and 2011 in areas with high unemployment and to make permanent the research and development credit, bonus depreciation, and increased expensing limitations.
Targeted Job Creation and Business Investment Act - Allows a reduction in 2010 and 2011 of an employer's payroll taxes by a specified percentage of the amount by which such employer increases aggregate payroll over the preceding calendar year for employees in high unemployment areas hired after February 3, 2010, and before January 1, 2012.
Amends the Internal Revenue Code to make permanent the tax credit for increasing research activities, bonus depreciation, and the increased (to $250,000) expensing allowance for depreciable business assets.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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