Jobs Bill

Senate Majority Leader Harry Reid, (D-Nev) received unexpected help from the Senates newest member Scott Brown (R-Mass) with the new jobs bill. Senator Brown and four other Republicans joined the Decomocrats in voting for the bill.  Democreatic opponents of the bill argue that it did not go far enough, because an extension of unemployment benefits and Cobran benefits for unemployed workers was not included.  However, the following items were included:

The jobs bill includes four components:

• a tax credit to employers who hire new workers
• a provision giving small businesses more leeway to write off the cost of capital investments
• the Build America Bonds, which would subsidize the borrowing costs of state and local governments
• a one-year extension of surface transportation authorization funding

The unemployment benefits and COBRA benefits will begin to expire on February 28, prompting other Democratic lawmakers to push for more jobs legislation.