A Recent Estimate of the Fiscal Burden on State and Local

question 242

Multiple Choice

A recent estimate of the fiscal burden on state and local government for low-skilled immigrant households is nearly

• A)$10 billion annually.
• B)$30 billion annually.
• C)$55 billion annually.
• D)$100 billion annually.

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Definitions:

FICA-Medicare

The portion of the Federal Insurance Contributions Act (FICA) tax that is dedicated to Medicare, funding hospital insurance for individuals under the Medicare program.

FUTA Payable

The amount owed by an employer for the Federal Unemployment Tax Act to fund state workforce agencies and unemployment compensation for workers who have lost their jobs.

Journal Entry

A record in the accounting journal that represents a financial transaction and includes details such as date, amounts, accounts impacted.

Debit

A debit is an accounting entry that increases an asset or expense account or decreases a liability or equity account.