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Expert: Jobs bill makes sense for long-term unemployed

As employers have tightened budgets in this economy, they are shutting down entire functions or departments in favor of cheaper outsourcing. The long-term unemployed were victims of budget problems, not talent problems.

By Amanda McGrory-Dixon | Updated on September 14, 2011

Since the U.S. economy sank in 2008, millions of workers have been laid off, and many of those have remained unemployed on a long-term scale. But with the proposed American Jobs Act, President Obama hopes to stimulate hiring, especially among long-term unemployed.

In an effort to make a dent in the unemployment number, the American Jobs Act would offer employers various tax credits to hire new workers, and payroll taxes would specifically be targeted. In fact, half of the first $5 million in payroll taxes would be cut for 98 percent of businesses, and a payroll tax holiday would be available for businesses that employ new workers or increase wages.

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