Posted on 02/09/2010 1:24:56 PM PST by traumer
Democratic leaders are pushing a sweeping jobs bill to the Senate floor, but they have yet to forge a bipartisan deal on the Obama administration's new top priority.
A draft of the roughly $80 billion bill, obtained by POLITICO, has a wide range of tax credits and job creation ideas, but it also includes provisions unrelated to jobs, including a reauthorization of the Patriot Act, infusion of new money to the Highway Trust Fund, and extension of the so-called “doc fix.”
Senate Majority Leader Harry Reid said drafting of the bill had been completed Tuesday afternoon, and he threatened to keep the Senate in session into the weekend to get it done, even as the rest of Washington shut down for the second round of a punishing blizzard.
“We really need to finish the bill this week,” he said on the Senate floor. “I would hope that we can do that in a reasonable time.”
Reid needs to begin taking procedural steps Tuesday, to pass a bill before Congress is set to leave for the Presidents Day recess.
He insisted that negotiators are closing in on a bipartisan deal to move the legislation but that there are still “a few Is that need to be dotted and Ts that need to be crossed.”
But Republican aides said on Tuesday afternoon that no deal had been struck – and differences still remain over several key issues. And Senate Minority Leader Mitch McConnell said his members had not yet see the parameters of the final package.
“I believe it is the case that not all members of the Finance committee are fully aware of what the package might look like and we don’t have an entire conference that fully understands it,’ he said. “My members need to be able to feel like they understand what they are being called upon to support.”
Republicans are pushing for a promise that Democrats will hold a vote on the estate tax, but Reid would not promise to include that provision. The estate tax is currently at zero but will jump to pre-Bush administration tax-cut levels in 2011. Republicans would like a vote to stop the tax from returning to 45 percent – a historic high.
A draft of the jobs bill circulating on K Street and Capitol Hill also showed the legislation including provisions unrelated to jobs, including a reauthorization of the Patriot Act, infusion of new money to the Highway Trust Fund, and extension of the so-called “doc fix.”
"We also prior to the end of this month have to do some things that are extremely important to the country," he said. "We have to extend the Patriot Act."
Republicans have stressed that they want to package to be tightly focused on tax cuts – and not turn into a catch-all for Democratic proposals.
But the bill would give an additional $20 billion to the Highway Trust Fund, paid for by interest to the account.
“There are a few Republicans who don’t want it,” said Senate Environment and Public Works Committee Chairman Barbara Boxer of the Fund, “but there are just a few so we’re going to have it in the jobs bill.”
The legislation also includes a payroll tax holiday for employers who hire unemployed workers — a bipartisan idea drafted by Sens. Orrin Hatch (R-Utah) and Chuck Schumer (D-N.Y.). It also includes extensions of annual corporate tax breaks, Build America Bonds and tax benefits for small businesses.
$80 billion,that’s so “80”’s,cmon harry,we need trillions!
At this point, the job Harry should be worried about is his own.
Paging Scott Brown....what say you sir?
The only jobs that government can create are government jobs.
Only $80 billion? They want to spend $2 trillion on healthcare and $850 billion on a Stimulus Bill that didn’t work. So why so cheap on the jobs bill? Do they need to save money for their other pet projects?
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
Looks like Reid has become a piker, only $80 billion. What do you think Nancy will say?
The Imperial Federal Government has never, ever, created even one job in the private sector.
Here they go again, trying to spend us out of debt.
Ain’t gonna happen. No how, no way.
The private sector is all hunkered down waiting for a better day. I have several friends that run businesses that say they will not hire nor try to expand their business as long as the RATS run DC. “Can’t be trusted” and “No way I’m betting my ass on them” are commonly heard mantras.
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
Don't worry, it'll be ten times that once it hits the floor. Throwing together an $80 billion (that's $80000000000) bill basically on the back of a napkin over the weekend is irresponsible in the gravest. Unfortunately, that will only be the beginning.
Hussein in February 2010: "Let's use 10% of our slush fund to pretend we care about the unemployed."
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