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Support Builds for Tax Credit to Encourage Hiring [View All]

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TomCADem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-07-09 12:03 AM
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Support Builds for Tax Credit to Encourage Hiring
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Source: NY Times

The idea of a tax credit for companies that create new jobs, something the federal government has not tried since the 1970s, is gaining support among economists and Washington officials grappling with the highest unemployment in a generation.

The proposal has some bipartisan appeal among politicians eager both to help their unemployed constituents and to encourage small-business development. Legislators on Capitol Hill and President Obamas economic team have been quietly researching the policy for several weeks.

There is a lot of traction for this kind of idea, said Representative Eric Cantor of Virginia, the Republican whip. If the White House will take the lead on this, Im fairly positive it would be welcomed in a bipartisan fashion.

In addition to the economists working on the proposal, some heavyweights support the concept, including the Nobel laureate Edmund S. Phelps, Dani Rodrik of Harvard and former Labor Secretary Robert B. Reich.

Read more: http://www.nytimes.com/2009/10/07/business/07tax.html?_...
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