WASHINGTON -- Sen. Charles Schumer is pushing to extend for six months a tax credit that rewards employers for hiring the long-term unemployed.
The so-called HIRE act was signed into law March 18. It exempts employers from paying the Social Security payroll taxes if a newly hired worker was unemployed for more than 60 days.
A report issued by the Treasury Department on Monday said businesses have hired 4.5 million workers under the program, but it's unclear how many would have been hired without the tax break.
The legislation was sponsored by Schumer and Republican Sen. Orrin Hatch.
