By Tony
Deblauwe
To ease the burden of
long unemployment periods, Congress is working to help stimulate job growth.
The HR 4620 bill, or Small Business Job Creation Act of 2010, helps small
business in areas that have high unemployment. Basically through a series of
tax breaks, the goal is to encourage small business owners to hire workers or
re-hire workers that were laid off.
Specifically, the
proposal would provide a tax credit of 20% for small employers and 15% for
large employers – those with more than 100 full-time employees. Under the
proposed legislation, the credit would only apply to an employee’s wages up to
the Social Security wage base of $106,800. The employer would be eligible to
receive the tax credit for one year.
Do you think this bill will do the trick and stimulate jobs?
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