New Jobs Tax Credit Act

[AI summary unavailable — showing source text] New Jobs Tax Credit Act - Amends the Internal Revenue Code to allow income tax credit for 20 percent of the wages paid to employees during their first twelve months of employment, where the employee was hired before attaining 22 years of age; or after being unemployed for at least 15 weeks and where his employment represents an increase in the average number of the employer's workforce for the previous calendar year. Limits this credit to employees hired before 1979, and to $2,000 in the case of each employee.…