What's in his plan?
Tax cuts
Investments and aid to states
What's in Obama's jobs bill? | Alaska Dispatch
How's it being received????
Americans Favor Obama Jobs Plan by 45% to 32%
.
Tax cuts
Payroll tax cuts for workers. Obama wants to extend and expand this tax cut, which is set to expire in December. It would put an extra $1,500 in the pockets of the typical household earning $50,000, the White House says. Failing to extend the tax break would, in effect, be a tax hike on most Americans, Obama argues. The overall cost is $175 billion.
Business tax cuts. Obama would give a partial payroll tax cut to all employers, with the benefits targeted especially toward small businesses, for next year. He also proposes a complete payroll tax holiday for new jobs or wage increases. The overall cost: $65 billion.
"100 percent expensing." This $5 billion proposal would be a one-year spur for businesses to make investments, by allowing them to quickly deduct the full value of spending on facilities or equipment.
Investments and aid to states
Aid to states. Obama would devote $35 billion to aid designed to prevent layoffs at schools, police stations, and fire departments where local governments face budget shortfalls.
Infrastructure spending. The bill includes $50 billion for repairing highways, airports, and urban transit systems. About $4 billion of the money would go toward high-speed rail.
A National Infrastructure Bank. This $10 billion effort would offer loans up to no more than half a project's cost to spur additional investments in transport, water, or energy systems. The money would partner with state or local government and private dollars.
Public school modernization. Some $30 billion would go toward everything from repair and renovation to computer labs, with 40 percent of the funds "directed toward the 100 largest high-need public school districts," the White House says.
What's in Obama's jobs bill? | Alaska Dispatch
How's it being received????
By 45% to 32%, more Americans want their member of Congress to vote for rather than against a jobs bill similar to the one President Obama proposed last week, with the rest having no opinion.
Americans Favor Obama Jobs Plan by 45% to 32%
.