Senate Democrats Said to Consider $80 Billion Jobs Legislation

Discussion in 'Wall St. News' started by ASusilovic, Jan 26, 2010.

  1. Jan. 26 (Bloomberg) -- Lawmakers are set to consider a jobs-stimulus package totaling about $80 billion that would provide tax credits to small and medium-sized businesses that hire workers, a Democratic senator said.

    The plan, to be presented today to Senate Democrats, would include aid to state governments to prevent layoffs and additional funding for infrastructure projects, said the senator, who asked not be identified. The package also will likely include energy-related provisions such as incentives to weatherize homes, a Senate aide said.

    Democratic leaders hope to have the measure on the Senate floor by the second week in February, the aide said, speaking on condition of anonymity.

    The proposal is smaller than an economic aid package approved last month by the House, in part because lawmakers plan to approve extensions in unemployment benefits costing tens of billions as part of separate legislation.

    The House plan, costing more than $150 billion, eschewed small business tax cuts in favor of spending $53 billion to extend unemployment benefits including so-called COBRA subsidies to help the jobless buy health insurance.

    The Senate proposal comes as lawmakers find themselves under growing pressure, underscored by Republican Scott Brown’s win in last week’s special U.S. Senate race in Massachusetts, to boost the economy before this year’s midterm elections. At the same time, lawmakers are trying to show voters they are serious about taming the government’s spiraling budget deficits.
  2. Lethn


    This part made me laugh quite a bit :p