Bank of America's (NYSE:BAC) CEO Says Tax Cuts Could Jump-start Hiring

In an interview with Bloomberg TV, Bank of America's (NYSE:BAC)Chief Executive Brian Moynihan said the continuation of tax cuts could generate business confidence leading to increased hiring.

Moynihan said, “The attitudinal switch helps in that people are saying, 'Ok, they’re trying. And they’re helping us.' And … so therefore that sort of can shift attitudes among business. At the end of the day, that’s probably what is most important, to have the attitude that yes I will hire more, yes I will do more, because I think I’m being supported.”

Bank of America is trading up today, surging to $11.97, up by $0.40, or 3.46 percent, as of 1:37 PM EST.

Republicans pressured Obama to continue the Bush tax cuts for everyone, making it possible to create a more positive business environment.