Title: Proposed federal tax cuts: What do they mean to me? - pennlive.com
Headings: Proposed federal tax cuts: What do they mean to me?
Proposed federal tax cuts: What do they mean to me?
PAYROLL TAX
ESTATE TAX
TUITION TAX CREDIT
CHILD TAX CREDIT
ALTERNATIVE MINIMUM TAX
CAPITAL GAINS AND DIVIDENDS
UNEMPLOYMENT BENEFITS
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Content: UNEMPLOYMENT BENEFITS
Million of job seekers will benefit from an extension of their benefits at current levels through the end of 2011. The extension applies to workers laid off for more than six months, and less than 99 weeks. Seven million Americans would have lost their benefits through next year without the 13-month extension. Obama's Council of Economic Advisers estimates the provision will create 600,000 jobs next year. That's because the unemployed live on the edge, and tend to spend every dollar they get, rather than save. That spending flows to businesses, putting them in better position to hire. The average weekly payment for the roughly 8.5 million people receiving unemployment benefits is $302.90. But it varies widely by state, from as little as $119 in Puerto Rico to nearly $420 in Hawaii. Each state sets the amount through a formula meant to replace a portion of an unemployed person's old income. Note to readers: