From the ATR website.
The Federal Unemployment Tax Act (FUTA) surtax, extended eight times over 35 years, has finally come to an end.
Rep. Dave Camp, R-Mich., announced last Thursday that House Republicans will not be extending this harmful tax on jobs:
The time was October 1976 . . . Congress created a supposedly temporary federal unemployment tax on jobs, sometimes called the Federal Unemployment Tax Act (FUTA) surtax. Today, after 35 years and eight separate extensions of this provision, the surtax will expire as House Republicans, led by Ways and Means Committee Chairman Dave Camp have refused to entertain an extension of this "temporary" tax on jobs beyond its current June 30, 2011 expiration date.
Discussing the expiration of the FUTA surtax, Camp stated, "The death of any tax on jobs — no matter how big or small — is a historic moment and one to be celebrated. The fact that it has taken 35-years for this "temporary" tax to expire clearly illustrates the dangers of higher taxes — once in place, they are unlikely to ever go away. We need employers paying more salaries, not paying higher taxes. And when the surtax expires, job creators will get a little and long overdue relief.”
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