Bill Currently Making Its Way Term Paper

Download this Term Paper in word format (.doc)

Note: Sample below may appear distorted but all corresponding word document files contain proper formatting

Excerpt from Term Paper:"

The bill is going to provide tax benefits for eligible workers at companies that meet the criteria to receive the tax credit.

A flexible work credit is going to be determined to be 25% of qualified wages each tax year.

The employer will have to meet certain requirements in order to qualify for the credit. These qualifications include the fact that the employer must provide health coverage to the employee and pay at least 60% of the premium for that coverage.

There are other restrictions as well including a cap of $6,000 a year in wages eligible for the tax credit possibility.

While many aging worker organizations believe that older workers are 45 and older, the bill will only cover workers who are beyond the age of 62.

The employee must be a flexible work program however, "such term shall not include any individual who begins participation in a formal flexible work program during any period in which more than 20% of the employees of the eligible employer are already participating in a formal flexible work program (Older Worker Opportunity Act of 2007 (Introduced in Senate) ("

In general the term 'formal flexible work program' means a program of an eligible employer-- which consists of core time and flex time, under which core time does not exceed

20 hours per week, days per week, or 1,000 hours per year, and which meets the requirements of subsection (Older Worker Opportunity Act of 2007 (Introduced in Senate) ("

The employee is required to pay the same percentage of wages to health insurance premiums that non-program workers pay.

Benefits of Bill

The bill will provide a very positive step toward the promotion of older workers because it will allow employers to claim a tax credit on their taxes for hiring and retaining such workers.

In addition the qualifications that are in place for an older worker to be eligible for the program will insure that corporations cannot simply hire a bunch of older workers and mistreat them or give them substandard pay, hours and benefits simply to be able to collect on the tax credit that this bill provides.

The bill is set up in such a manner that for the employer to reap the benefits of the tax credit the employer will have to provide a stable, and beneficial work environment to the older workers that is equal to the program and environment that the younger workers enjoy.

The older workers who will qualify their employers for the tax credit will also be required eligible to participate in any retirement savings plan and they cannot be excluded from said plan for any reason other than their opting out of the plan.

The restrictions and requirements of this bill will make it a safety feature for older employees as they begin to get hired by large corporations and provided with solid and equal benefits as compared to their younger counterparts.

The provision of the bill that requires that the employee wages be close to if not equal to those of peer wages is an important one. "Most research on older workers focuses on individuals approaching traditional retirement ages of 55 to 65, there has been little research on the labor supply of individuals aged 65 and older, sometimes referred to as "the elderly (Lockwood, 2003)." The Center for Retirement Research at Boston College's (CRR) Elderly Labor Supply: Work or Play notes that "the labor supply of the elderly is concentrated among the healthiest, wealthiest, and most educated individuals, and yet they earn very low wages (Lockwood, 2003). Nearly 70% of individuals aged 70 and above earn wages in the bottom quintile of the overall wage distribution of those aged 50 to 61(Lockwood, 2003)."

This bill will provide a benefit to corporations with a healthy 25% tax credit on wages for older workers while at the same time provide stop gap measures to be sure corporations do not hire older workers to get the tax credit without treating them with respect and fairness once they are employed.

It is an excellent bill that will provide a positive element for everyone involved.


Lockwood, Nancy R (2003) the aging workforce: the reality of the impact of older workers and eldercare in the workplace.(2003 SHRM[R] Research Quarterly)


Older Worker Opportunity Act of 2007 (Introduced in Senate)

709 IS 110th CONGRESS 1st Session (accessed 4-26-07)[continue]

Cite This Term Paper:

"Bill Currently Making Its Way" (2007, April 27) Retrieved December 6, 2016, from

"Bill Currently Making Its Way" 27 April 2007. Web.6 December. 2016. <>

"Bill Currently Making Its Way", 27 April 2007, Accessed.6 December. 2016,

Other Documents Pertaining To This Topic

  • Bill Clinton vs Princess Diana

    Princess Diana and President Clinton When taking some time to think about it, is easy to both compare and contrast Princess Diana and President Clinton. Both are (or indeed were) prominent political figures, hounded by the press. Both attempted at some point to promote an image of marital bliss when in fact the opposite was the case. In each case sexual indiscretion on the part of one or both of the

  • Should Australia Adopt a Bill of Rights

    Australian Bill of Rights Maintaining a feasible balance between free will and government control is a constant and historic ideal that has driven the evolution of society for thousands of years. Law has been self imposed on mankind in order to regulate unwanted behavior and streamline acceptable and appropriate lines of acceptable living. Morals, ethics and personal preferences from all segments of society should be accurately represented to design a comprehensive

  • Propose Gay Marriage Bill in Texas

    Gay Marriage Bill in Texas: Same sex marriages and other kinds of same-sex unions have become controversial issues in the modern United States. This issue has been characterized by attempts by the American federal government and several state legislatures to enact regulations that either allow or prohibit these kinds of unions or marriages. In the past few years, the public opinion regarding the issue has changed to become more tolerant

  • Stimulus Bill Political Communication Political Communication During...

    Stimulus Bill Political Communication Political Communication during the Stimulus Bill Debate In times of economic uncertainty and national emergency, the government has the capacity to make decisions that it believes will aid the country in its time of need. Such a time of need occurred in 2009 when the country continued to face an existence of dire economic circumstances involving national cash-flow and jobs. In order to set economic recovery into motion,

  • Should Australia Adopt a Bill of Rights

    Human Rights Should Australia Have a Bill of Rights? Back between 1992 and 1994 in Australia, the Human Rights and Equal Opportunity Commission together with the Australian National University (ANU) which was a center for Public Law made a publication that contained volumes of essays explaining the desirability for a Bill of Rights. The survey conducted by ANU reported that over 70% of the Australians where for a Bill of rights. 8%

  • Senate Bill 5 Oped of Support

    Ohio's Senate Bill #5 -- a Good Idea When first-term Ohio Governor John Kasich signed Senate Bill 5 into law on March 31, 2011, he was doing what he thought was best to help his state deal with an estimated $8 billion budget deficit. But he was also aware that the legislation -- which will substantially take away some power from 350,000 public workers, including teachers, law enforcement officers and firefighters

  • Sixteen American States Currently Allow Doctors to

    Sixteen American states currently allow doctors to prescribe an herbal remedy to their patients: cannabis. Herbal remedies are not typically viewed with suspicion, but cannabis has been illegal in the United States for several decades. Still technically an illegal drug, cannabis is not being sold legally in select medical dispensaries in the states that allow for its controlled use. The organization Pain Management of America outlines some of the

Read Full Term Paper
Copyright 2016 . All Rights Reserved