Entries in Jobs Creation Plan (4)


Obama Says Republicans 'Did the Right Thing' to Pass Jobs Bill

JIM WATSON/AFP/Getty Images(WASHINGTON) -- After weeks of publicly campaigning against Republicans for failing to act on portions of his $447 billion jobs bill, President Obama said Thursday they “did the right thing.”

On the eve of Veterans Day, the president praised Senate Republicans and Democrats for passing an element of his jobs bill that will offer companies tax incentives to hire unemployed and disabled veterans.

“Tomorrow, our nation will commemorate Veterans Day and honor the service and the sacrifice of all who have worn the uniform of the United States of America,” Obama said in a written statement. “No veteran who fought for our nation should have to fight for a job when they come home, and I urge the House to pass these tax credits as well so I can sign them into law.”

Thursday marks the first time a portion of the president’s American Jobs Act has gained approval and Obama, not surprisingly, urged lawmakers to “pass additional jobs proposals in the weeks ahead to help the millions of other Americans who are still looking for work.”

Copyright 2011 ABC News Radio


Obama's Jobs Bill Heads to House for Approval

iStockPhoto/Thinkstock(WASHINGTON) -- The first piece of President Obama’s jobs bill has passed overwhelmingly in the Senate, and now will be sent to the House of Representatives.

By a vote of 94-1, a measure to provide tax credits to businesses that hire unemployed or disabled veterans sailed though the Senate, with only one senator voting no.

The lone "no' vote, Sen. Jim DeMint, R-S.C., said from the Senate floor the bill is “good politics,” but not good policy. Citing past similar examples, he said the tax credit is not enough to increase employment.

“The government has tried offering credits to hire particular categories of people many times before,” DeMint said. “The government accounting office report studied a targeted jobs tax credit passed back in 1978. The credit was intended to encourage companies to favor the disadvantaged in hiring. But a follow-up study found that it was not effective or economical in helping the targeted group. The program was eventually allowed to expire.”

The veterans measure was attached to a House-passed bill that would repeal the imposition of three percent withholding on certain payments made to vendors by government entities such as federal government contractors.

The three percent withholding bill, the overall vehicle for the veterans measure, passed by a vote of 95-0. Not voting were Sens. Kay Hagan, D-N.C., Daniel Inouye, D-Hawaii, John McCain, R-Ariz., and Jeff Sessions, R-Ala. On both measures, Sen. Olympia Snowe, R-Maine, voted present.

Snowe’s office said that although she supports the major provisions within the bill, it is the senator’s practice to vote “present” on legislation that contains the potential or appearance of association with the private business activities of her spouse.

Following the vote, Senate Majority Leader Harry Reid, D-Nev., called on the House to pass the bill Friday -- on Veterans Day.

The House is not in session this week and is expected to pass the bill next week. If passed, the bill will then be sent to President Obama’s desk for his signature.

Copyright 2011 ABC News Radio


Senate to Pass First Piece of Obama's Jobs Bill

(WASHINGTON) -- The Senate will likely pass the first piece of President Obama’s jobs bill Thursday, 29 days after the failure of the overall jobs package, and 28 days after the Senate declared it would pick out parts of the bill and start passing them through.

After at least two failed attempts at passing other parts of the bill, this will be the first piece to get though the Senate.

The Vow to Hire Heroes Act of 2011 will provide incentives to employers to make hiring veterans a priority. The bill will be tacked onto the three-percent withholding bill as an amendment to the one that the House of Representatives passed last week.

The measure would also provide a tax credit to companies of up to $5,600 for hiring veterans who have been looking for a job for more than six months and a $2,400 credit for veterans who have been unemployed for more than four weeks but less than six months. If a company hires a veteran with service-connected disabilities who has been looking for a job for more than six months the company can receive a tax credit of up to $9,600.

Additionally, the legislation would ensure that all outgoing veterans receive the job training skills they need to find a job and transfer into civilian society. A Transition Assistance Program, a workshop, would be mandatory for service members moving from service to civilian life, providing help with resume writing and career counseling.

The bill will not get paid for by the controversial surtax on Americans making more than $1 million, unlike the other two pieces of the jobs bills that failed previously under Democratic insistence and Republican opposition.

Rather, the bill will be covered by existing pay-fors that have been used by previous Congresses, primarily though the extension of the current fee rate for guaranteeing Veterans Affairs home loans.

Both Republicans and Democrats expect this measure to pass overwhelmingly Thursday.

The vote on the bill will happen in the early afternoon, after a few amendments, including one counter-plan from Sen. John McCain, R-Ariz., that likely won’t pass.

After Thursday’s portion of the jobs bill passes, it will be sent to the House of Representatives for a final vote. The House will take up the measure next week and if passes in the House, it goes to President Obama’s desk for his signature.

Copyright 2011 ABC News Radio


Mayor Bloomberg Predicts Riots in the Streets Without Job Creation

The City of New York(NEW YORK) -- Mayor Bloomberg warned Friday that there would be riots in the streets if Washington doesn’t find a way to start generating more jobs.

He pointed to demonstrations in both Cairo and Madrid as examples of dissatisfied citizens taking to the streets to show their unhappiness.

In Cairo, angry Egyptians demonstrated their frustrations by toppling leader Hosni Mubarak and, more recently, attacking the Israeli Embassy. In Madrid, recent protests were sparked by the government's decision to spend millions on Pope Benedict’s visit rather than dealing with their widespread unemployment problems.

Bloomberg’s prediction comes as President Obama has been pressuring Republicans to pass his proposed job creation plan.

Copyright 2011 ABC News Radio

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