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Treasury links 4.5 million new hires to tax credits


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WASHINGTON (Reuters) – U.S. businesses eligible for a new employment tax credit hired 4.5 million new employees from February to May, the Treasury Department said on Monday — but it declined to draw a cause-and-effect conclusion.
“I would say that the jury is completely out on the number of jobs that will be added on net because of the HIRE Act,” Treasury Assistant Secretary Alan Krueger said, referring to the Hiring Incentives to Restore Employment Act passed in March.

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