
Senate Democrats eye $80B jobs package
By Ben Pershing
January 26, 2010
With lawmakers eager to pivot to economic legislation, Senate Democratic leaders have drafted an initial version of an $80 billion-plus job-creation bill that will be heavy on tax breaks designed to spur businesses to make new hires.
On Wednesday, President Obama will lay out his own proposals to boost the economy in his State of the Union address. Obama is expected to call for a freeze on federal spending that is not related to national security, as well as a series of tax cuts and credits that would mostly benefit middle-class families.
The Senate's package is still in the discussion stage, but is developed enough that Democrats hope to have it on the chamber floor in a matter of weeks. The leaders were slated to discuss the measure with their caucus at the party's weekly luncheon Tuesday but ran out of time, and now hope to have a more concrete proposal ready to unveil later this week.
The measure isn't quite finished yet, but sources said the current version would cost just over $80 billion. Though that number may change as the process moves forward, it is clear Senate Democrats have no intention of moving a jobs package as large as the $154 billion measure the House passed in December on a narrow, party-line vote. The House measure included money to extend unemployment benefits and COBRA health insurance coverage, items that aren't in the draft Senate bill but may move in the chamber separately.
"There is 'big bill fatigue' in the Senate right now," said a Senate Democratic aide.
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Senate Democrats draft $82.5 billion jobs plan
The Associated Press
January 25, 2010
WASHINGTON -- Top Senate Democrats have drafted an $82.5 billion "jobs" plan that would help small businesses, boost spending on road construction and mass transit, and give local governments money to retain teachers.
The draft document proposes $20 billion for a job creation tax credit and $12.5 billion to retrofit homes and businesses to make them more energy efficient. It has not been publicly released but a summary was obtained by The Associated Press.
The debt-financed plan faces a difficult path through Congress, especially since Republicans now control enough seats to maintain a filibuster in the Senate. The House passed a significantly larger plan last month.
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/25/AR2010012503552.html