Corporate profits are expanding at a record-setting clip but 14.5 million Americans can't find jobs.
While there are no easy solutions, expanding and renewing the 2010 HIRE Act would be a good start.
In practical terms, the 2010 law lead 6.9 million unemployed people to new jobs in just five months, according to the U.S. Treasury Department.
With unemployment at 9.4 percent, the 2010 HIRE Act should be renewed and expanded to include a bigger incentive package. Businesses need a better reason to hire the unemployed right now and additional incentives to hire those who have been out of work the longest period of time.
Exapand and renew the HIRE Act
Greetings,
Corporate profits are expanding at a record-setting clip but, 14.5 million Americans can't find jobs.
While there are no easy solutions, expanding and renewing the 2010 Hiring Incentives to Restore Employment (HIRE) Act would be a good start.
In practical terms, the 2010 law gave employers who hired an unemployed person between Feb. 3, 2010 and Jan. 1, 2011 a payroll tax break. Companies that kept those employees at least one year also qualified for a general business tax credit on their 2011 tax return. During its first five months, the HIRE Act lead 6.9 million unemployed people to new jobs, according to the U.S. Treasury Department.
With unemployment at 9.4 percent, the 2010 HIRE Act should be renewed and expanded to include a bigger incentive package. Businesses need a better reason to hire the unemployed right now and additional incentives to hire those who have been out of work the longest period of time.
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