Wednesday
Feb242010
Geithner Claims 2011 Budget Will Drive Job Creation
Wednesday, February 24, 2010 at 3:14PM
By Antonia Aguilar - University of New Mexico/Talk Radio News Service
Treasury Secretary Timothy Geithner outlined the Obama administration's plans for more job creation on Wednesday during a hearing held by the House Budget Committee.
“From the start, the Obama administration has realized that it would be almost impossible for us to move the deficit down without moving the economy forward...While we build up jobs, we need to bear down on the deficit,” said Chairman John Spratt Jr. (D-S.C.).
The Administration's number one priority is job creation, said Geithner, adding that President Barack Obama's proposal to extend the “Small Business Jobs and Wages Tax Cut,” and provide $5,000 tax credits to businesses that hire will help achieve this.
“This combination of tax measures will boost the pace and quantity of business investment, and with it, the number of new jobs that businesses create,” said Geithner.
In addition, Geithner lauded the President's proposals to invest $5 billion in the production of clean energy products in the U.S., and to provide incentives for people who retrofit their homes to be more energy efficient.
“We are a strong and resilient country. We have successfully confronted great economic challenges in the past, and we will do so again. This is a question of will, not ability,” he said.
Treasury Secretary Timothy Geithner outlined the Obama administration's plans for more job creation on Wednesday during a hearing held by the House Budget Committee.
“From the start, the Obama administration has realized that it would be almost impossible for us to move the deficit down without moving the economy forward...While we build up jobs, we need to bear down on the deficit,” said Chairman John Spratt Jr. (D-S.C.).
The Administration's number one priority is job creation, said Geithner, adding that President Barack Obama's proposal to extend the “Small Business Jobs and Wages Tax Cut,” and provide $5,000 tax credits to businesses that hire will help achieve this.
“This combination of tax measures will boost the pace and quantity of business investment, and with it, the number of new jobs that businesses create,” said Geithner.
In addition, Geithner lauded the President's proposals to invest $5 billion in the production of clean energy products in the U.S., and to provide incentives for people who retrofit their homes to be more energy efficient.
“We are a strong and resilient country. We have successfully confronted great economic challenges in the past, and we will do so again. This is a question of will, not ability,” he said.
Reader Comments