Entrex Works with Congress to Develop "Job Investment Tax Credit of 2010"
CHICAGO, Feb. 03, 2010 Entrex CEO, Stephen H. Watkins, has introduced, and is working with key Congressional members to create, legislation for both House and Senate proposals around a "Job Investment Tax Credit of 2010."
Watkins offered the investment tax credit proposal as an alternative to President Obama's "jobs tax credit." Watkins sees the Obama model as a "shot not focused on the target." He suggests "a company focused job tax credit is nice, but the credit does not actually enable a company to hire an employee."
The Entrex "Job Investment Tax Credit of 2010" proposal offers investors a 100% tax credit on investment income directly related to investments in private companies where the company hires one employee for every $100,000 of capital received.
Watkins' plan, becoming known as "One Year, One job, $100K," promotes an investment tax credit for investors who would actually provide capital to the companies; enabling them with the resources to hire the new employee. Watkins states that "if an employee could offer immediate revenue and profits to a company they would already be hired. New employees that are training, building skills and growing into a role which creates revenue and profits require investment dollars -- dollars which most companies have limited access -- especially in this economy."
The Entrex "One Year, One job, $100K" Tax Credit provides a win/win/win/win scenario that not only benefits all parties involved (companies, investors, employees and the U.S. Government) but offers an impressive 911% cash-flow benefit back to the federal government for each $100K invested.
Watkins concludes, "Maybe I'm missing something, but why promote spending $33 Billion of Government money when American investors would welcome investing in businesses around our nation to grow and bring back our competitive soul."
"Let's help get private capital to small businesses to hire, let new workers work, build a greater personal income and corporate tax structure ... while providing a credit for the investors who take the risk. In the end the Government wins, investors win, employees win, businesses win. Why are we discussing anything that provides less benefits to so many parties; Isn't this Americana at its best?"
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