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American Jobs and Closing Tax Loopholes Act

The Senate Finance Committee and the House Ways and Means Committee have released the legislative text of the American Jobs and Closing Tax Loopholes Act [3] that, among other things, introduces tax cuts, expands career training, and extends eligibility for unemployment benefits. As noted by Arthur Delaney at the Huffington Post, this bill will not bring relief [4] those who have exhausted their 99 weeks of unemployment benefits.

What’s in this bill that will affect you (as opposed to businesses)?

If you’re curious about the other provisions in the bill, the ones that don’t directly affect us (many of which pay for the tax break extensions), the Washington Post has a good summary [6].

(Photo: laurapadgett [7])