June 17, 2015
By Meg Kinnard and Lisa Lerer
Targeting youth unemployment, (click here) Hillary Rodham Clinton plans to propose tax credits to encourage businesses to train young people and offer apprenticeships to develop lifelong job skills.
Clinton's campaign said she would outline a proposed tax credit of $1,500 for every apprentice that a business hires during a forum Wednesday at Trident Technical College in North Charleston, South Carolina. The state holds the first-in-the-South presidential primary.
The Democratic presidential candidate said last weekend she would begin
outlining policy proposals during the summer, and the economic agenda
item aims to connect with young workers and black young adults. The May
unemployment rate for workers age 18 to 34 was 7.8 percent, more than 2
percentage points higher than the national average, while unemployment
for young black adults was 14.6 percent....
Youth unemployment went from nine percent in the first quarter of 2000 to nineteen percent in the first quarter of 2010. Since the global economic collapse President Obama has successfully reduced youth unemployment to levels before the Presidency of Bill Clinton. The economics of former President Bill Clinton brought youth unemployment to some of it's lowest levels in the USA.
Now, the former Secretary wants to strength the resolve of USA business to invest in our youth's future. It will be the first time there has been such a program proposed to provide the very incentive business needs to provide employment.
When the collapse of 2008 occurred an entire generation of Americans were left without the hope of work. This tax credit could be the beginning of our young people getting a foothold on work and promoting a much larger and thriving economy.
Depending on how many young people are hired in a year there will be smaller tax bills for the business. But, depending on the gross salary the young people make in one year they may have to pay taxes as well. The $1500 incentive is nearly negated by the fact the economy will increase with more circulating currency and taxes paid by young Americans.
Great idea!
