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Wednesday, January 27, 2010

Feingold Suggests Employer Tax Credits for Hiring New Workers

A Democrat actually put forth a good idea the other day that might actually increase job growth instead of killing it, for a change:

Senator Russ Feingold (D-WI) “introduced legislation today to help businesses hire workers and bring down unemployment through the creation of a jobs tax credit,” according to an e-mailed press release.

"The legislation creates a temporary jobs tax credit over the next two years for businesses that hire new employees, expand work hours for their current workforce, or simply raise worker pay."

This will help offset any extra cost that businesses will incur, when they hire a new employee. That could encourage employers to hire more without so much trepidation. My only worry is that they don't add more wasteful spending on such legislation that will offset any progress made from the tax credit.

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