Reintroduce the HIRE Act with more tax incentives to grow payrolls in addition to the former Employer Social Security tax incentive for hiring qualified unemployed workers.
Employers with net payroll additions for 2012 with be eligible for income tax deductions. The deductions will be for the number of net payroll additions and will be equivalent to the taxable income paid for the net number of new employees starting with the last eligible hire. Net payroll additions based on number of full time employees at the start of 2012 (average of full time employees for first 4 weeks) subtracted from the number of employees at the end of 2012 that had been employed for at least 2 months. 1/2 of 2012 deduction in 2013 for employers with ave full time payroll => end of 2012.