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."