Perlmutter Supports Job Creation in Colorado

March 4, 2010

Today, Congressman Ed Perlmutter (CO-07) joined a majority of his colleagues in passing legislation to create hundreds of thousands of new American jobs, spur private sector hiring and help rebuild our crumbling infrastructure.

 “My number one priority is putting Coloradans back to work.  This bill is a responsible and timely way to save and create jobs, keep lending available to small businesses and maintain our transportation infrastructure,” stated Perlmutter. “The bill is fiscally responsible and fully paid for by cracking down on off shore tax havens and closing loopholes for corporations that ship jobs overseas. While we must invest now to create jobs and get our economy back on track, we cannot leave the bill for those investments to the next generation.”

HR 2847 includes the following provisions:

• A payroll tax holiday for businesses that hire unemployed workers, to create approximately 300,000 jobs and an income tax credit of $1,000 for businesses that retain these employees for one year;
• Tax cuts to spur new investment by small businesses to help them expand and hire more workers;
• Provisions to make it easier for states to borrow for infrastructure projects, such as school construction and energy projects;
• Extension of the Highway Trust Fund allowing for billions in infrastructure investment.