Yesterday, the White House released the statutory language for the "$447 billion jobs creation and infrastructure 'stimulus' package" known as the American Jobs Act of 2011. Some incentives in the package include extension and expansion of payroll tax holidays and temporary payroll tax credits.TaxProfBlog has also recently posted about the statutory language and White House explanation of the American Jobs Act of 2011. The TaxProfBlog pulls out Title IV of the Act and mentions revenue offset measures. Please see the link below for the listing of the revenue offset measures.
See Deloitte, "White House Releases Details of Job Act," (September 13, 2011).
See Steven Schneider, "American Jobs Act - Carried Interest and Itemized Deduction Limitations," Taxlawroundup.com (September 13, 2011).
See TaxProfBlog, "American Jobs Act of 2011: Statutory Language and White House Explanation," (September 13, 2011).
Posted by Marc Tan, Associate Editor, Wealth Strategies Journal.