8 News Now: Business Leaders Tout Harry Reid

LAS VEGAS — Nevada Senator Harry Reid began the congressional August recess with a campaign stop in Las Vegas. The Senate Majority Leader met with business leaders to hear what laws they want coming out of Washington D.C.

It had the look of business leaders gathering around Senator Reid revealing their wish list: small business loans, debt deferments and tax credits for hiring the unemployed were touted as the best ways to get out of the recession.

“We said if you hire somebody who’s been out of work for 60 days and hire them for at least 30 hours a week, you don’t have to pay their FICA tax,” said Reid. “At the end of the year, if they’re still working, you’ll get a $1,000 tax credit.”

Senator Reid held his campaign stop at DW Bistro, a small restaurant in southwest Las Vegas that opened this spring. The co-owners say they took advantage of that federal tax credit, claiming it helped them hire 24 full-time employees.

Reid also touted his community bank bill, saying it will free up nearly $30 billion nationwide for small business loans. The majority leader said that without this stimulus spending, the recession would become a depression.

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