Obama team reconsiders proposed tax credit for new hires

01/13/2009 | Wall Street Journal, The

President-elect Barack Obama may reconsider a proposed tax credit that would give businesses $3,000 for each new hire. Some economists say businesses could abuse the credit by firing and rehiring existing employees to claim the credit. The Obama administration may scrap the proposed $25 billion plan and devote the funds toward renewable energy and conservation instead.

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Wall Street Journal, The

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