A collection of newsworthy information as reported from newspapers, magazines, and blogs.
Sunday, February 7, 2010
7 Republicans Block Small Business Tax Credit
Small businesses will get a $5,000 tax credit for every net new employee created in 2010. If they raise wages or hours, they will be reimbursed for the higher Social Security payroll taxes.
Back in October, the idea gained bipartisan support and an endorsement from none other than Eric Cantor, the House GOP whip. “There is a lot of traction for this kind of idea,” Cantor told The New York Times. “If the White House will take the lead on this, I’m fairly positive it would be welcomed in a bipartisan fashion.”
But a week later, Cantor seemed to walk away from the idea, telling The Hill there was a possibility of abuse of the credits.
That is precisely the position seven GOP senators found themselves in last week, when they voted against setting up a bipartisan commission on fiscal responsibility to deal with the budget deficits. The seven originally co-sponsored the bill, which failed by just seven votes. (Per Jake Tapper of ABC News.)
The magnificent seven in full: Robert Bennett of Utah Sam Brownback of Kansas Mike Crapo of Idaho John Ensign of Nevada Kay Bailey Hutchison of Texas James Inhofe of Oklahoma John McCain of Arizona.
These Senators represent you. Make them help find a way to put America back to work and stop the empty rhetoric.