President Barack Obama's jobs bill, facing a serious test in the Senate, appears likely to fail because Republicans oppose its spending components and its tax supplement on millionaires obama has been waging a campaign style effort to rally public hold behind the $447 billion measure, which was expected to be the subject of a Senate vote Tuesday.
The plan combines payroll tax cuts for workers and businesses with $175 billion in expenditure on roads, school repairs and other infrastructure, as well as unemployment support and help to local governments to avoid layoffs of teachers, firefighters and police officers.
The key elements of the jobs package reprise parts of Obama's $800 billion-plus 2009 stimulus determine and a Social Security payroll tax cut enacted last year unlike the notorious stimulus bill, the jobs measure would be financed by a 5.6 percent surcharge on income more than $1 million, raising more than $450 billion over a decade.
No comments:
Post a Comment