Treasury: 5.6M hires qualify for new tax break - WAOW - Newsline 9, Wausau News, Weather, Sports

Treasury: 5.6M hires qualify for new tax break

WASHINGTON (AP) -- The Treasury Department says businesses have hired 5.6 million workers under a new program that provides tax breaks for hiring unemployed workers.

The report, however, does not estimate how many of those jobs would have been added without the tax break.

President Barack Obama signed a law in March that exempts businesses hiring people who have been unemployed for at least 60 days from paying the 6.2 percent Social Security payroll tax through December. Employers get an additional $1,000 credit if new workers stay on the job a full year.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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