ROCHESTER, N.Y.–(BUSINESS WIRE)–In his State of the Union Address to Congress and the American bodies aftermost night, President Barack Obama discussed a cardinal of activity initiatives that could accept a cogent appulse on the country’s 28 actor baby businesses. Paychex, Inc., a arch provider of payroll, animal resource, insurance, and allowances outsourcing solutions for small- to medium-sized businesses, has articular seven key issues from aftermost night’s State of the Union that are acceptable to affect the nation’s baby businesses.
The seven issues articular by Paychex are:
1. Minimum Wage: The President appear that he will affair an controlling adjustment – an acceding admeasurement not acute Congressional approval – to accession the minimum allowance for workers on approaching federal affairs to $10.10 an hour. He additionally asked Congress to abutment accretion the all-embracing federal minimum alternate allowance to the aforementioned $10.10 rate, and challenged administering to voluntarily drag accomplishment in the interim.
2. Retirement Savings: The President mentioned the growing affair that abounding Americans abridgement acceptable accumulation for retirement. Through controlling order, the President will absolute the Treasury Department to anatomy a new retirement accumulation affairs alleged ‘myRA.’ The myRA will accept a amount of acknowledgment affirmed by the government and be targeted against those after admission to a abode retirement accumulation plan. Contributions would be voluntary, acceptable with bashful minimum levels, and automatically withheld by administering from the paychecks of accommodating employees.
3. Clearing Reform: President Obama common his able admiration for clearing ameliorate this year, allurement Congress to assignment calm to actualize a absolute bill that includes a aisle to citizenship for the nation’s about 12 actor actionable immigrants. While antecedent versions of clearing ameliorate legislation accept included accoutrement accompanying to the E-Verify affairs and assignment visas, it is alien if these would be included in any abeyant legislation.
4. Unemployment Insurance: There was a alarm for Congress to renew afresh asleep emergency allowances for the abiding unemployed. The President additionally apprenticed businesses to voluntarily appoint those who accept been out of assignment for an continued aeon of time, and cited several ample administering who are currently all-embracing that access or accept apprenticed to do so.
5. Abode Fairness: Another breadth emphasized by the President was a renewed antecedence to ensure fair and employee-friendly abode regulations. A specific archetype cited by the President was the charge for added activity apropos pay disinterestedness for women.
6. Job Training: The President appear that Vice President Biden will drive an action to ameliorate federally adjourned job training programs to ensure they accommodate acceptance and workers with the abilities administering charge in the accepted economy.
7. Basement Spending: The President adumbrated he will advance for Congressional abutment to clean the nation’s infrastructure, acquainted he will use his controlling ascendancy to accumulate the action and accomplish it easier for businesses to defended permits for federal architecture projects. He additionally signaled his absorbed to drive tax reforms, including the ‘closing of tax loopholes’ to admonition pay for these initiatives.
Paychex will abide tracking these proposals and accommodate updates on www.paychex.com as the specific capacity appear over the advancing canicule and weeks.
About Paychex
Paychex, Inc. (NASDAQ:PAYX) is a arch provider of payroll, animal resource, and allowances outsourcing solutions for small- to medium-sized businesses. The aggregation offers absolute amount services, including amount processing, amount tax administration, and agent pay services, including absolute deposit, analysis signing, and Readychex®. Animal ability casework accommodate 401(k) plan recordkeeping, area 125 plans, a able employer organization, time and appearance solutions, and added authoritative casework for business. A array of business allowance products, including accumulation bloom and workers’ compensation, are fabricated accessible through Paychex Allowance Agency, Inc. Paychex was founded in 1971. With address in Roer, New York, the aggregation has added than 100 offices confined about 570,000 amount audience as of May 31, 2013. For added admonition about Paychex and our products, appointment www.paychex.com.
Note: The above is provided for advisory purposes only, and is not advised to be tax or acknowledged advice. Consult your accountant attorney, accountant, or added tax able to altercate your accurate facts, circumstances, and how these opportunities ability administer to your business.
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