GOP lawmaker proposes $7K subsidy to companies who hire the long-term unemployed

"The existing federal government programs to provide employment and training solutions are well-intentioned, but with unemployment remaining unacceptably high we must constantly look for new and innovative ways to help get the long-term unemployed back to work," Dold said Monday. "My approach would create an incentive for employers to hire and retain long-term unemployed workers, while giving these job seekers a powerful tool in this difficult job market."

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Dold's bill, H.R. 6568, would require the secretary of Labor to study the feasibility of creating certificates for workers who have been unemployed for six months or more and who are deemed to be "reasonably hirable."

Companies that hire these people would take possession of the certificate, and if they kept the person on the job for at least six months, the companies could redeem the certificate with the federal government for $7,000.

Dold's bill would require the secretary of Labor to report back on the feasibility of this program after 90 days.