Posted: Feb 2, 2010 10:38 AM by Bea Karnes, News First 5
Treasury Secretary Tim Geithner says the nation's economy is stronger than it was a year ago, yet the government must continue to act to stimulate job growth.
Geithner told the Senate Finance Committee Tuesday that the Obama administration is trying to balance the desire to add jobs with the need to rein in ballooning budget deficits.
President Barack Obama has proposed giving companies a $5,000 tax credit for each new worker they hire in 2010. Businesses that increase wages or hours for their current workers in 2010 would be reimbursed for the extra Social Security payroll taxes they would pay.