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March 01, 2010 | NEWS ARTICLES
Schumer: Hiring jobless could bring firms tax breaks
By BRYON ACKERMAN | Observer-Dispatch | Link to article
ROME — Legislation recently passed in the U.S. Senate could provide tax break to local businesses who hire unemployed persons, Sen. Charles Schumer, D-N.Y., said here Monday.
That could help persons such as Chuck Obernesser, 56, of New Hartford, who attended Schumer's event at Assured Information Security Inc.
He said he has been unemployed since he lost his job more than seven months ago as fixed operations manager of Saturn of the Mohawk Valley, which closed.
Obernesser said he hopes the legislation is able to create permanent jobs to assist the unemployed.
“Right now, we need all the help we can get to get people back to work,” he said.
The legislation, introduced by Schumer and Sen. Orrin Hatch, R-Utah, would offer tax breaks to companies that increase their work force by hiring workers who have been unemployed for 60 days or more. The businesses wouldn't have to pay the employer's share of Social Security taxes for the worker for 2010.
Schumer said this would directly help create jobs because it would give businesses considering starting to hire again an incentive to make the move.
“This will push them over the edge,” he said.
Almost 849,000 people in the state - including 8,200 people in Oneida County - would be eligible to be hired through the program, Schumer said.
The Joint Committee on Taxation estimates the initiative would cost $13 billion, according to a news release from Schumer.
Schumer met Monday with some local unemployed people, officials and business leaders at Assured Information Security Inc. at Griffiss Business and Technology Park in Rome.
Assured Information Security President Charles Green said the company has about 90 employees and is looking to hire 10 to 15 new workers.
Company Director of Strategic Initiatives Igor Plonisch said he hopes the business is able to take advantage of the legislation.
“But the key with this is it's there, and it's an opportunity for businesses - especially small businesses,” he said.
The legislation passed in the Senate last week with a vote of 70-28, Schumer said. Because of the bipartisan support, Schumer said he believes it would pass the House of Representatives this week and be signed into law by President Barack Obama within a week.
The program provides greater benefits to businesses for hiring people sooner, Schumer said. Also, for every new employee kept on the payroll for 52 continuous weeks, the business would receive an additional $1,000 credit on its 2011 tax return, he said.
Schumer said the legislation is beneficial because it is bipartisan, immediate, simple and goes directly to creating jobs.
“Every nickel that is spent is because someone new was hired,” he said
That could help persons such as Chuck Obernesser, 56, of New Hartford, who attended Schumer's event at Assured Information Security Inc.
He said he has been unemployed since he lost his job more than seven months ago as fixed operations manager of Saturn of the Mohawk Valley, which closed.
Obernesser said he hopes the legislation is able to create permanent jobs to assist the unemployed.
“Right now, we need all the help we can get to get people back to work,” he said.
The legislation, introduced by Schumer and Sen. Orrin Hatch, R-Utah, would offer tax breaks to companies that increase their work force by hiring workers who have been unemployed for 60 days or more. The businesses wouldn't have to pay the employer's share of Social Security taxes for the worker for 2010.
Schumer said this would directly help create jobs because it would give businesses considering starting to hire again an incentive to make the move.
“This will push them over the edge,” he said.
Almost 849,000 people in the state - including 8,200 people in Oneida County - would be eligible to be hired through the program, Schumer said.
The Joint Committee on Taxation estimates the initiative would cost $13 billion, according to a news release from Schumer.
Schumer met Monday with some local unemployed people, officials and business leaders at Assured Information Security Inc. at Griffiss Business and Technology Park in Rome.
Assured Information Security President Charles Green said the company has about 90 employees and is looking to hire 10 to 15 new workers.
Company Director of Strategic Initiatives Igor Plonisch said he hopes the business is able to take advantage of the legislation.
“But the key with this is it's there, and it's an opportunity for businesses - especially small businesses,” he said.
The legislation passed in the Senate last week with a vote of 70-28, Schumer said. Because of the bipartisan support, Schumer said he believes it would pass the House of Representatives this week and be signed into law by President Barack Obama within a week.
The program provides greater benefits to businesses for hiring people sooner, Schumer said. Also, for every new employee kept on the payroll for 52 continuous weeks, the business would receive an additional $1,000 credit on its 2011 tax return, he said.
Schumer said the legislation is beneficial because it is bipartisan, immediate, simple and goes directly to creating jobs.
“Every nickel that is spent is because someone new was hired,” he said
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