Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
Washington, D.C. - Today, U.S. Senator Rob Portman (R-Ohio), along with Senators Ben Cardin (D-Md.) and Mark Warner (D-Va.), offered an amendment to the Expiring Provisions Improvement Reform & Efficiency (EXPIRE) Act, also known as the tax extenders bill, which would make long-term unemployed Americans eligible for The Work Opportunity Tax Credit (WOTC). The WOTC provides an employer tax credit of between $1,200 and $9,600 per employee for hiring and retaining veterans, ex-felons, the disabled, summer youth employees, and Temporary Assistance for Needy Families, Supplemental Nutrition Assistance Program, and Supplemental Security Income recipients.
"Nearly 4 million Americans are struggling to find work in this weak economy," Portman stated. "We should make it a top priority to connect those Americans with a job, and to create good tax policy that encourages job creation and hiring."
Portman is the author of the bipartisan unemployment insurance agreement that would extend unemployment insurance for long-term unemployed Americans. Portman played a key role in ensuring the bill is fully paid for, that it is short-term, and that it includes reforms to the broken program that's failing to connect Americans with jobs.
Read this original document at: http://www.portman.senate.gov/public/index.cfm/press-releases?ID=ea9ab5fc-0c3c-4375-9848-aa0934c25bb2