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BLOG for ADVOCATES
We created this blog to share interesting advocacy related items that cross our desks. It can be anything from new research on funding for advocacy to examples of unusual advocacy strategies. If you have an item to share please send it to npaction@npaction.org.
Wednesday, February 03, 2010 Obama Proposes Credit for Employers, Including Nonprofits President Obama has announced a proposal to help small employers, including nonprofit groups. The plan is meant to help groups hire workers and raise wages. For example, charities could receive a $5,000 federal tax credit for every net new employee added in 2010, with a $500,000 cap on the total amount of credits that can be earned. The credits will be applied to federal payroll taxes that employers pay on behalf of their employees. Obama remarked; "I'm proposing what I believe is the best way to cut taxes while promoting hiring by small businesses: through a tax credit for companies that add workers or increase salaries this year. Now is the perfect time for this kind of incentive because the economy is growing, but businesses are still hesitant to start hiring again. The economy is growing, but job growth is lagging. Companies are recovering but not yet taking that next step and taking on somebody full time." The proposal does have to be first approved by Congress. Independent Sector has more information on the budget and nonprofits. Posted by Amanda Adams |
