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Obama Hopes to Create New Jobs

posted October 6, 2009 - 3:57am
Obama Hopes to Create New Jobs

Job losses have slowed in recent months, in part because of the economic stimulus plan enacted earlier this year, but there is much more work to be done, according to Obama administration sources.  The White House is currently exploring new ideas to create more jobs without the need for a second stimulus package.  Options under discussion include a tax credit to small businesses in the amount of $3,000 per new hire.  This, it is hoped, would spur new job growth in the short term by compensating for the tight credit market, which has made hiring difficult for many firms.  Also being considered is a plan to let more businesses deduct their net operating losses going back five years.  The $8000 tax credit for first-time homebuyers may also be extended.


Article: http://www.nytimes.com/2009/10/06/us/politics/06jo...


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