Bipartisan Support Growing for Jobs Bill

Posted Feb 9th 2010 5:20PM by Joseph Lazzaro
Filed under: Employees, Politics, Recession

What might get the Republicans to bite on the jobs bill currently under formulation on Capitol Hill? A lack of an estate tax.

The bipartisan Senate bill that may come for a vote this week is not likely to include an extension of the estate tax, which expired at the end of 2009, Reuters reported Tuesday (however, Washington's likely, second heavy storm/blizzard in a week, expected to arrive Tuesday night, may delay the vote: most federal offices were closed again Tuesday for snow clean-up).

The $80 billion job bills will also likely include a tax credit for small businesses to encourage hiring, and a $20 billion extension of the federal highway and transportation construction program, Bloomberg News reported Tuesday.

Fiscal/Economic Analysis: The bill has very good chance of passage, if it retains that lack of an estate tax component. From a Republican standpoint, it's not easy to pass up that carrot.

But note the Republican change of tone on legislation: when Democrats secure Senate support for legislation via a deal, it's called 'dealmaking,' 'selling out to special interests,' and 'prostituting one's self.'

However, when Republicans trade support for a deal for a party constituency -- in this case upper income groups and others with large estates --it's called the legislative process.

Now, the above is called a double-standard.

In any event, the bill is needed to help jump-start the U.S. economy and create jobs, hence it should be passed.

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Financial Editor Joseph Lazzaro is writing a book on the U.S. presidency and the U.S. economy.

Tags: inthenews, jobs bill, politics, recession

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Reader Comments (Page 1 of 1)

2-09-2010 @ 10:04PM

dkurtz628 said...

Term limits for all politicians! The politicians currently serving at all levels, fed., state, local, are corrupt, godless, lazy, greedy men and women lacking honesty and integrity.

2-09-2010 @ 9:41PM

kelkent said...

This joker is a little Biased? No, not a bit. Government can't create prosperity. Remove the burden from business and watch it grow. Oh I forgot, the liberals just want it to look like they are doing something for the economy while they are taking it down brick by brick.

2-10-2010 @ 6:42AM

carl said...

You Sir are a FOOL ! ! !

WHY haven't they spent the last stimulus money yet? It's just there to be used as their election year 'candy' to try to buy their re-election!! AND what they have spent has made no noticable difference in the lives of the American Public.

This is just another WASTE of money. Soon, the US won't have a good enough credit rating to keep borrowing, and wasting this money. That might be the only good thing about our collapse.

2-10-2010 @ 9:18AM

Blinz47 said...

Business starts hiring with the improvement in sales ..not because of some assinine tax credit...our politicians need a class in "Business 101"...Cut taxes and cut the BS..Put the money back in the hands of the people , where it belongs..

2-11-2010 @ 8:13PM

Paul said...

Governments are instituted among Men, deriving their just Powers from the Consent of the Governed, that whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government… it is their Right, it is their Duty, to throw off such Government, and to provide new Guards of their future Security.

THOMAS JEFFERSON
The Declaration of Independence
NEVER EVER VOTE FOR ANYONE WHO IS IN A GOVERNMENT OFFICE OR HAS HELD A GOVERNMENT OFFICE, TIME FOR REAL CHANGE VOTE THE WHORES OUT