economics

March 18, 2010

Jobs Bill Closer To Final Passage Businesses Say Tax Breaks Are Welcome But They Won’t Generally Lead to Hires Until Sales Improve

Filed under: Uncategorized — ktetaichinh @ 6:14 pm
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Companies that bring on employees who have been out of work at least 60 days would not have to pay their 6.2% share of federal payroll taxes for the rest of the year. If the worker is still on the books in a year, the business owner would receive an additional $1,000 tax credit.

Two months after President Barack Obama first urged Congress to pass such a tax credit, small-business owners say the weak outlook for sales and widespread uncertainty over the economy and health-care are the biggest hurdles to expanding their businesses, something a tax credit can’t fix

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