Legal Commentary

Reid Nixes Baucus' "Tax Cuts For The Rich"Jobs Bill

By Big Tent Democrat

The Hill:

Senate Majority Leader Harry Reid (D-Nev.) is rewriting a jobs bill after Democrats complained of too many concessions to Republicans. Reid announced Thursday that he would cut back on the jobs bill Senate Finance Committee Chairman Max Baucus (D-Mont.) introduced only hours earlier, essentially overruling the powerful chairman.

[. . . ] The bill now include four components: tax credits for employers who hire new workers; a provision allowing businesses to write off the cost of capital investments; Build America Bonds, which allow state and local governments to lower their borrowing costs; and a one-year extension of funding for transportation programs in the Surface Transportation Act. Reid said he made the decision to rewrite the bill before meeting with skeptical Democratic colleagues on Thursday afternoon. Democrats complained the bill did not focus enough on job creation.

Thank Gawd someone still has some sense in DC.

Speaking for me only

Full post as published by TalkLeft on February 11, 2010 (boomark / email).