I know your intentions are good, but a new-hire incentive is gimmicky intrusion like cash for clunkers or an incentive for homebuyers or artificially low interest rates. Let those for whom it makes business sense hire—without penalizing those who’ve already hired—and drastically cut taxes and spending across the board.
Business all ready have to pay taxes, Giving them a tax deduction for new hires is merely one way to let them keep their own money that would actually be politically do able.