Bill Text: NJ SR203 | 2010-2011 | Regular Session | Introduced
Bill Title: Urges Congress to enact the President's proposal for payroll tax relief.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-09-22 - Introduced in the Senate, Referred to Senate Budget and Appropriations Committee [SR203 Detail]
Download: New_Jersey-2010-SR203-Introduced.html
Sponsored by:
Senator SHIRLEY K. TURNER
District 15 (Mercer)
SYNOPSIS
Urges Congress to enact the President's proposal for payroll tax relief.
CURRENT VERSION OF TEXT
As introduced.
A Senate Resolution urging the United States Congress to enact the President's proposal for payroll tax relief.
Whereas, The American people, including the residents of the Great State of New Jersey whom we represent, are facing tough economic times; and
Whereas, The national unemployment rate and the New Jersey unemployment rate are still hovering around nine percent; and
Whereas, Consumer prices continue to increase nationally and in the Great State of New Jersey; and
Whereas, It is the federal government's obligation to promote the general welfare; and
Whereas, The President of the United States has proposed full refunds of employer paid payroll taxes for the first $50,000,000 of wages provided to newly hired employees and wage increases for existing employees; and
Whereas, This proposal will encourage new hiring and wage increases that will bolster consumer purchasing; and
Whereas, The President of the United States has proposed to cut the payroll tax rate in half on each employer's first $5,000,000 of payroll; and
Whereas, This proposal will make it easier for employers to maintain existing jobs; and
Whereas, The President of the United States has proposed cutting employee paid payroll taxes in half; and
Whereas, This proposal will make it easier for workers to afford necessities and encourage consumer purchasing; and
Whereas, The American people, including the residents of the Great State of New Jersey whom we represent, require swift economic relief; now, therefore,
Be It Resolved by the Senate of the State of New Jersey:
1. The Congress of the United States is respectfully urged to enact the President's proposals for payroll tax relief.
2. A duly authenticated copy of this resolution, signed by the President of the Senate and attested by the Secretary of the Senate, shall be transmitted to the President of the United States, the Majority Leader and Minority Leader of the United States Senate, the Speaker and Minority Leader of the United States House of Representatives, and each member of the United States Congress elected from this Great State.
STATEMENT
This Senate Resolution urges Congress to enact the President's proposal for payroll tax relief. New Jersey, along with the rest of the country, is in need of economic encouragement to create new jobs, maintain existing jobs, and make more consumer purchases. The President's proposal for payroll tax relief is aimed at doing just that.
The President's payroll tax relief has essentially three components. The first component of the proposal provides full refunds to employers for payroll taxes on the first $50,000,000 of wages provided to newly hired employees and wage increases for existing employees. This will encourage new hiring and wage increases that will bolster consumer purchasing. The second component of the proposal cuts the payroll tax rate in half on each employer's first $5,000,000 of payroll, which will make it easier for employers to maintain existing jobs. The third component of the proposal cuts employee paid payroll taxes in half, which will make it easier for workers to afford necessities and encourage consumer purchasing.
