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Published on Oct 6, 2011
Today, U.S. Representative Jim Renacci (OH-16) testified before the House Ways and Means Committee about his bill, the EMPLOY Act. The EMPLOY Act offers employers a portion of the unemployment insurance the federal government is already paying individuals in exchange for training prospective employees with an aim to hire them full-time. The employer must agree to pay their new employee at least 110 percent of what they would receive on unemployment and at least minimum wage. The program allows the government to spend less money on direct disbursements given to businesses than it would on an individual's unemployment benefits. It also generates new revenue from growth in the size of the payroll tax and individual income tax pool - all at no additional expense to taxpayers.