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Senate Passes $18B Jobs Bill

Proponents hope measure will create 250K jobs

By the Associated Press

Posted Mar 17, 2010 1:24 PM CDT

(AP) – US companies that hire unemployed workers will get a temporary payroll tax holiday under a bill that easily won final congressional approval today. The 68-29 Senate vote sends the legislation to the White House, where President Obama has promised to sign it into law. Optimistic estimates predict the tax break could generate 250,000 jobs through the end of the year, a tiny fraction of the 8.4 million jobs lost since the start of the recession.

The measure is part of a campaign by Democrats to show they are addressing the unemployment problem, which has been overshadowed by Congress' final push to pass health care legislation. It contains about $18 billion in tax breaks and a $20 billion infusion of cash into highway and transit programs. It exempts businesses that hire the unemployed from paying the 6.2% Social Security payroll tax through December and gives employers an additional $1,000 credit if new workers stay on the job a full year.

Sen. Debbie Stabenow, D-Mich., Sen. Charles Schumer, D-N.Y. and Sen. Barbara Boxer, D-Calif., take part in a news conference on Capitol Hill following the Senate passing the jobs bill.
Sen. Debbie Stabenow, D-Mich., Sen. Charles Schumer, D-N.Y. and Sen. Barbara Boxer, D-Calif., take part in a news conference on Capitol Hill following the Senate passing the jobs bill.   (AP Photo)
Participants fill out applications while attending a job fair in Detroit last month.
Participants fill out applications while attending a job fair in Detroit last month.   (AP Photo/Paul Sancya)
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COMMENTS
Showing 3 of 11 comments
Nora_Kit
Mar 18, 2010 3:30 AM CDT
Isn't this a crock, our government causes the unemployment problems, creates a bandaid for it, and we are all lovey dovey. Do you think we need some sort of emmy award for Congress? I mean we could get some sort of isle with royal dangles for them to walk on. Give me a break people.
DontLikeYou___
Mar 18, 2010 2:12 AM CDT
Congress votes. Jobs are created. Yeah, right. Do they think we are f**king stupid??
billbobaggins
Mar 17, 2010 9:03 PM CDT
They neglected to mention that $17 billion of that is pork.

Copyright 2012 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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