Unbelievable: Republicans work in tax relief for investors into a bill originally aimed at giving breaks to businesses that hire the unemployed.

From the AJC:

The investor tax break was tacked on to a popular bill originally aimed at giving breaks to businesses that hire the unemployed.

The legislation, House Bill 481, gives $2,400 tax credits to employers who hire and retain the unemployed.

But Republican negotiators added an amendment cutting long-term capital gains taxes by 25 percent for gains in 2010 and by 50 percent after that.

Capital gains are profits from the sale of stocks, bonds, other investments and things like vacation real estate.

Perdue raised questions about the capital gains tax cut. He would have to sign it to become law.

“As Republicans, we don’t like taxes,” Perdue said. “But when you’re in a constrained situation in a balanced budget state with the challenges we have now, I will have to look at it in the light of that. There may be a better day to look at that in the future.”

Critics said the tax break would cost the state $340 million a year and would mostly benefit the highest wage earners in Georgia.

“This helps the rich and the super-rich,” said Sen. Nan Orrock (D-Atlanta). “This is fiscal irresponsibility at its highest.”