Thursday, March 4, 2010

LoBiondo votes against tax cuts for businesses to hire new workers

The House of Representatives voted today on the Hiring Incentives to Restore Employment Act. This would provide tax credits to help businesses hire workers during this terrible recession where we are suffering from 10% unemployment. It also nclueds highway money which New Jersey desperately needs. Here's a description of the jobs bill, which is one of many pending:

This $15 billion measure includes: A payroll tax holiday for businesses that hire unemployed workers, to create some 300,000 jobs and an income tax credit of $1,000 for businesses that retain these employees. Tax cuts to spur new investment by small businesses to help them expand and hire more workers. Extension of the Highway Trust Fund allowing for tens of billions of dollars in infrastructure investment Provisions -- modeled after the Build America Bonds program - to make it easier for states to borrow for infrastructure projects, such as school construction and energy projects. This bipartisan job creation measure passed by a vote of 70-28 in the Senate last week, and is one in a series of measures this Congress will take to restore the American economy.

Sadly, Frank LoBiondo voted against the bill, even though it enjoyed overwhelming support in the Senate. What happened to his concerns about unemployment? What about his love of tax cuts?