Senate Tax Could Generate Up to 18,000 New Nonprofit Jobs
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Feb. 11, 2010, Chronicle of Philanthropy -- A tax credit that is part of a draft jobs bill that the U.S. Senate is now considering could provide $1-billion in benefits to nonprofit groups and generate from 8,000 to 18,000 new nonprofit jobs, according to an analysis by the Alliance for Children and Families.
The measure -- drawn up by Sens. Charles E. Schumer of New York and Orrin Hatch of Utah -- would exempt private employers, including nonprofit groups, from paying their share of Social Security taxes for employees they hire through the end of 2010. The new hires must have been out of work for at least 60 days.