Senate OKs $17.6-billion jobs bill, 68-29
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The Senate on Wednesday gave final passage to a $17.6-billion jobs bill, the first of a series of actions the Democrats have promised in this midterm election year.
The measure passed on a 68-29 vote, and it now goes to President Obama, who has said he will sign the bill.
It originally passed the Senate, 70-28, in February. The House passed a slightly different version on March 4 on a 217-201 vote, requiring more Senate action.
The bill contains tax breaks for companies that hire unemployed workers. It exempt businesses from paying the 6.2% Social Security payroll tax through December and gives employers an additional $1,000 credit if new workers stay for a year.
It also includes the new ‘pay as you go’ rules, which require any program costs to be offset by other funds in the bill or cuts in spending.
In order to speed construction during the spring building season, the bill also includes about $20 billion for highway and transit programs by extending programs through the end of the year.
-- Michael Muskal
