Congresswoman Chellie Pingree applauds job-creating legislation

Passing Senate, bill offers tax exemptions for businesses that put the unemployed back to work
 
Today Congresswoman Chellie Pingree applauded the Senate for passing legislation that will make it easier for businesses to hire the unemployed and put people back to work.  The President said he will soon sign the bill into law.
 
“Small businesses are key to our state’s recovery and this legislation gives them some much-needed support to grow and create jobs,” said Pingree.  “But this is just a first step. We need to keep fighting to preserve jobs and put Mainers back to work.” 
 
The bill provides a temporary payroll tax exemption for job creation.  Employers do not have to pay their share of 2010 Social Security taxes for employees hired between Feb. 3, 2010, and the end of this year if they were previously unemployed and do not replace another employee.  Employers will get a $1,000 income tax credit for every new employee they continue to employ for 52 weeks. 
 
The bill also encourages economic growth by allowing businesses to write off more of the cost of their 2010 expenditures and providing vital transportation infrastructure funding for all fifty states. 
 
“Businesses are poised for growth but they’re still wary of taking on more employees during these tough times,” said Pingree.  “This legislation offers a boost that will help bridge the gap between the hundreds of Maine businesses that want to expand and the thousands of Mainers who want to get back to work.”