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US House to vote on modified US$15 bln jobs bill
Source: Agencies |
March 4, 2010, Thursday
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THE US House of Representatives will vote on a US$15 billion jobs bill today after modifying it to address the concerns of centrist Democrats, a House aide said on Wednesday.
The Senate, which passed the bill last week, would have to vote on the modified version before President Barack Obama could sign it into law, possibly by the end of the week, the aide said.
Democrats have vowed to make job creation their top priority this year to bring down the 9.7 percent unemployment rate before the November congressional elections. They have been delayed by snowstorms, Republican tactics and internal bickering.
The Senate passed a US$15 billion package centered on a tax break for businesses that hire unemployed workers, but the measure has stalled in the House because black lawmakers say it is too paltry and centrists say it would violate budget rules.
Those concerns have been resolved and the House will vote on a modified version of the bill on Thursday, a House Democratic aide said.
The new version would push back a business tax break, which would raise enough money to satisfy the concerns of centrist Democrats, a second House aide said.
The tax break in question would allow businesses to use an alternative method to account for interest paid in foreign countries. It would take effect in 2020 rather than 2019, the aide said.
The Senate, which passed the bill last week, would have to vote on the modified version before President Barack Obama could sign it into law, possibly by the end of the week, the aide said.
Democrats have vowed to make job creation their top priority this year to bring down the 9.7 percent unemployment rate before the November congressional elections. They have been delayed by snowstorms, Republican tactics and internal bickering.
The Senate passed a US$15 billion package centered on a tax break for businesses that hire unemployed workers, but the measure has stalled in the House because black lawmakers say it is too paltry and centrists say it would violate budget rules.
Those concerns have been resolved and the House will vote on a modified version of the bill on Thursday, a House Democratic aide said.
The new version would push back a business tax break, which would raise enough money to satisfy the concerns of centrist Democrats, a second House aide said.
The tax break in question would allow businesses to use an alternative method to account for interest paid in foreign countries. It would take effect in 2020 rather than 2019, the aide said.
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