S. 2983: Hire Now Tax Cut Act of 2010
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S. 2983: Hire Now Tax Cut Act of 2010
111th Congress · introduced 2010-02-04 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2010-02-04 · official record
- Who proposed it: Sen. Schumer, Charles E. [D-NY] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Hire Now Tax Cut Act of 2010
Plain summary
Hire Now Tax Cut Act of 2010 - Amends the Internal Revenue Code to: (1) exempt for-profit and nonprofit employers from social security taxes in 2010 for new employees who are hired after February 3, 2010, and before January 1, 2011, and who certify that they have not worked more than 40 hours during the last 60 days; and (2) allow an increase in the general business tax credit for the retention of such employees for at least one year at specified wage levels. Appropriates to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund under title II of the Social Security Act amounts necessary to cover any reduction in revenues resulting from the tax exemptions provided by this Act.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Hire Now Tax Cut Act of 2010
Source: Congressional Research Service summary (Introduced in Senate)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Schumer, Charles E. [D-NY] · 2 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Sponsor's campaign money: Sen. Schumer, Charles E. [D-NY] reported raising $1.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s2983.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s2983 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111