To amend the Internal Revenue Code of 1986 to repeal the additional 0.2 percent FUTA surtax.

Amends the Internal Revenue Code to repeal the 6.2% federal unemployment tax rate for calendar years 1988 through 2008 and apply the 6.0% rate.

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5294 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 5294

To amend the Internal Revenue Code of 1986 to repeal the additional 0.2 
                          percent FUTA surtax.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 7, 2008

  Mr. Herger (for himself and Mr. Weller of Illinois) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to repeal the additional 0.2 
                          percent FUTA surtax.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF THE ADDITIONAL 0.2 PERCENT FUTA SURTAX AND REBATE 
              OF PAYROLL TAXES PAID IN CALENDAR YEAR 2008.

    (a) In General.--Section 3301 of the Internal Revenue Code of 1986 
(relating to rate of tax) is amended by striking ``equal to'' and all 
that follows through ``of the total wages'' and inserting ``equal to 
6.0 percent of the total wages''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to remuneration paid after December 31, 2007.
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