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Hiring Subsidy Bill Will Not Deliver Jobs as Promised, Says Expert

Newswise - John H. Bishop, a professor at Cornell University's ILR School, says the federal hiring bill approved by the Senate on March 17 is less effective than the subsidy proposed by President Barack Obama.

He says:

"The hiring subsidy bill, expected by some to produce $15 billion in tax breaks for businesses, will not prove to be the job creation engine as advertised by its proponents.

"The jobs bill exempts employers from the 6.2 percent payroll tax on earnings through 2010 for workers hired after being unemployed for at least 60 days. For every one of those workers who completes a full year on the job, the business also receives a $1,000 tax credit.

Source: NewsWise