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You are here: Home / Taxes / Will tax credits for job creation help?

Will tax credits for job creation help?

January 13, 2009 By WRN Contributor

One Wisconsin CEO doesn't think tax credits for job creation would have a huge impact on the economy, but also believes it wouldn't hurt.

President-elect Barack Obama is proposing a $3,000 tax credit for companies that hire or retain workers, which would carry a price tag of up to $300 billion. That alone won't lead to many hires, according to Mark Tyler, President and CEO of Woodville-based OEM Fabricators.

Tyler says those kinds of credits may help to move a business forward with buying a new piece of equipment or expanding. However, he says most companies hire new employees because they're needed, not because of a tax credit.

Tyler thinks more infrastructure spending would really help the manufacturing sector at this point, by increasing the demand for the services they can provide. He says a great deal of manufacturing work helps the equipment used to build new infrastructure, so it would impact them as well.

The self-described "fiscal conservative" says he's concerned politicians seem to be willing to run up huge debts to pay for a package, but think Obama's got a good team working on the crisis. Tyler says Obama's diverse cabinet picks aren't just a group of "yes people."

AUDIO: Paul Knoff reports (MP3 1:10)

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Filed Under: Taxes



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