More detail on the White House plan to help Main Street.
From the link:
President Obama will propose Friday in Baltimore a new business tax credit worth up to $5,000 for every new worker hired this year.
Under the president’s plan, a business could claim a tax credit of up to $5,000 for every net new employee it adds to its workforce this year. If that business hires a worker and fires another, it would be ineligible for this credit.
Senior administration officials said they capped the total credits a business can claim at $500,000 to ensure their proposal mostly helps small businesses.
“The focus is really on small businesses,” said a senior administration official.
The president is also proposing the federal government reimburse businesses for the Social Security taxes they owe on increases in their payrolls this year.