Senators Baucus, Grassley Present Bipartisan Jobs Bill, Sort Of
February 11, 2010
(ChatahBox)—-Despite the two blizzard and record snowfall that have paralyzed Washington, DC this week, the Senate unveiled its first draft of a surprisingly bipartisan jobs bill on Thursday. Well, two Republican Senators are for the moment, supporting the jobs package: Sens. Charles Grassley and Orrin Hatch. Democratic Sen. Max Baucus Chairman of the Senate Finance Committee and Sen. Grassley, the ranking member, issued a joint statement calling the proposal a “first step.”
“We offer it as the first step in the Senate process for consideration of these time-sensitive proposals,” the two lawmakers said. The Senate bill relies heavily on a tax credit for businesses that hire people who have been unemployed for at least 60 days. And according to the Congressional Budget Office, the proposed tax credits would cost between $56,000 and $125,000 in lost tax revenue for every American hired for a full-time job.
The House jobs bill focused more on construction spending and aid to beleaguered states in a deep recession, to reduce the 9.7 percent unemployment rate. The Senate’s bill would cost $125 billion.
The bill is not expected to be debated, until the Senate returns from a recess on Feb. 22.
(Update: Sen. Harry Reid pulled this mess of a bill from Sens. Baucus and Grassley just hours after they released it, before it became bogged down like the health reform bill. It seems Baucus and Grassley can screw up just about anything they come in contact with.