A bill to amend the Internal Revenue Code of 1954 to provide a tax credit for the amount of employment taxes paid by an employer to certain new employees.

Amends the Internal Revenue Code to allow employers a tax credit for the sum of Federal Insurance Contributions Act (FICA) and in specified instances, Federal Unemployment Tax Act (FUCA) taxes withheld and paid for a limited number of new employees. Directs the Secretary of the Treasury, in consultation with other departments and agencies, to make annual reports to Congress on the impact of this credit as an employment incentive.