Brain
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Joined: 2/14/2007
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It was “the renewal of an array of tax breaks that are due to expire” that killed it. These are the tax cuts for the rich that are not affordable and they are already doing very well and they need to pay their fair share. And screw the White House because Barack you are full of shit with your change crap. We want results not speeches or cheap talk. Go Harry!
Deal on Jobs Shows Limits of Push for Bipartisanship
By CARL HULSE and DAVID M. HERSZENHORN
Senator Harry Reid, the majority leader, said he would move ahead on only some elements agreed to by both parties, and seek to move those rapidly through the Senate.
Yet his decision to embrace only portions of the bipartisan plan developed by Senators Max Baucus, Democrat of Montana, and Charles E. Grassley, Republican of Iowa, caught some lawmakers by surprise and threatened to undermine Republican support for the proposal even as members of Congress and the White House sought ways of working together across party lines after months of deep partisan division.
The White House projected Thursday that unemployment would fall this year by only a little, if at all, and would remain well over 6 percent until 2015.
While Mr. Reid stripped out of the bipartisan bill some tax breaks and other provisions intended to win Republican support, as well as special-interest provisions to win the backing of specific senators, the scaled-back package retained a combination of tax cuts and spending with the potential to win support from both parties.
The centerpiece is a payroll tax holiday that would waive the 6.2 percent Social Security tax for any employer who hires a worker who has been out of a job for at least 60 days. In addition, the bill would provide a $1,000 income tax credit for every new employee retained for at least 52 weeks.
It would also extend a tax break that would allow businesses to write off up to $250,000 in capital investments in 2010 rather than depreciating the costs over time, and reauthorize spending on road and transit programs through the end of the year. And it would allow state and local governments to receive a federal subsidy for a portion of the interest paid on bonds that finance public works projects.
The cost of the package laid out by Mr. Reid would be at least $15 billion over the next decade.
Hours before Mr. Reid’s announcement, Mr. Baucus, chairman of the Finance Committee, and Mr. Grassley, the senior Republican on the panel, had unveiled a broader, $85 billion agreement that also included an array of other provisions intended to generate support. They included extended unemployment benefits and health care for the unemployed as well as the renewal of an array of tax breaks that are due to expire.
That proposal had drawn backing from top Republicans and Democrats as well as the White House. Some of the authors of its provisions, including Senator Orrin G. Hatch, Republican of Utah, said they were left perplexed by Mr. Reid’s decision to scale it back and were now unsure they could support any bill.
“Needless to say, Senator Hatch is deeply disappointed that the majority leader has abandoned a genuine bipartisan compromise only hours after it was unveiled in favor of business-as-usual, partisan gamesmanship,” said Antonia Ferrier, a spokeswoman for Mr. Hatch, who helped write a provision suspending the payroll tax for companies that hire out-of-work people.
Democrats said Mr. Reid’s hand was forced by objections from rank-and-file Democrats that the measure was not focused tightly enough on job creation and included too many corporate tax breaks they viewed as concessions to Republicans.
At the same time, they said, Republican leaders had made no firm commitment to support the measure and they feared they could face conservative attacks for extraneous provisions like disaster aid for Arkansas and Mississippi.
“I would prefer a jobs bill that simply focuses on some specific job-creating initiatives,” said Senator Byron L. Dorgan, Democrat of North Dakota.
http://www.nytimes.com/2010/02/12/us/politics/12cong.html?th&emc=th
quote:
ORIGINAL: willbeurdaddy
quote:
ORIGINAL: MzMia
Michael you were right 25 years ago, the chickens have come home to roost!
And apparently that's Reids concern too. He wants to keep his roost, so he's killed Porkculus II.
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RE: PROMISES, PROMISES: Jobs bill won't add many jobs -... - 
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