Catherwood LibraryILR School

The Treasury Department is pushing the Hiring Incentives to Restore Employment (HIRE) program, which exempts wages paid to workers who were out of work for two months or more from the Social Security payroll tax. HIRE also gives employers a $1,000 tax credit for workers that they keep for a year. The Treasury Department says that it believes around 4.5 million workers are eligible for the plan, which could save employers around $8.5 billion in taxes. However, some believe that the program is too small to have a large impact on hiring practices. Others are more worried about the lack of knowledge about the program, which the Treasury Department is now trying to combat. The program is due to expire in December, but the White House is expected to push for an extension.