President Obama pitched his $447 billion jobs bill in several areas Monday, including Silicon Valley. Will additional spending really spur employers to create 1.9 million new jobs in 2012? Or, are other factors keeping companies — including yours — from adding full-time staff?
Some experts say employers want to hire more workers, but can’t find enough qualified people to fit their revised hiring profiles. Others contend that unemployed workers are reluctant to accept a job or reach a compromise until their benefits run out. And still others insist that executives have no faith in the global economy and are afraid to invest in additional staff.
So we want to know if your company will hire more employees because of President Obama’s plan and why. We invite you to weigh-in after reviewing a summary of the key highlights from the bill, which include.
- Cut businesses payroll taxes in half to 3.1 percent on the first $5 million in payroll in 2012, which covers about 98 percent of small business. In addition, a complete payroll tax holiday for companies that hire new workers or raise wages by up to $50 million above the prior year.
- A tax credit of $4,000 for employers who hire workers who’ve been unemployed for more than six months.
- Increased hiring tax credits — $5,600 to $9,600 — for hiring veterans.
- Investments in infrastructure that include modernizing roads, rail, airports and waterways, in addition to renovating 35,000 public schools
- A $49 billion, one-year extension of unemployment benefits to prevent 5 million Americans from losing their benefits.
What do you think? Post your comments below.