Friday, January 29, 2010

TN Banks, Businesses Wary of Obama Jobs Plan

From the Tennessean: "'I think the administration is trying to find something that works,' said David Penn, an economist with Middle Tennessee State University. 'There's no guarantee ... we won't know until they try.' Penn said it makes sense to give banks strong incentives to make loans, but he said tax credits aren't a cure-all. The problem with offering businesses a tax credit for creating jobs is that 'it will only work if the business is making a profit,' Penn said." (full story)