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FReepathon Day 47!!
Posted on 11/16/2011 9:40:46 PM PST by NormsRevenge
WASHINGTON (Reuters) - In a rare display of cooperation, Republicans and Democrats in Congress overwhelmingly approved a limited jobs bill on Wednesday that would help some veterans find work but otherwise do little to bring down the nation's 9 percent unemployment rate.
The bill, aimed at government contractors and veterans, is so far the only piece of President Barack Obama's $447 billion job-creation package to clear Congress. Republicans have lined up behind a contrasting agenda of their own ahead of the 2012 presidential and congressional elections.
It passed the House of Representatives by a unanimous vote of 422 to 0. Only one lawmaker voted against the bill when it passed the Senate last week. Obama has said he will sign it into law.
...
The bill approved Wednesday represents a small slice of Obama's jobs plan.
It aims to reduce unemployment among military veterans by giving a tax break to businesses that hire them. It would also boost veterans' job training programs.
Veterans account for 850,000 of the country's 14 million unemployed workers, according to the White House, and 1 million service members are projected to leave the military in the coming five years as the wars in Afghanistan and Iraq wind down.
The bill also eliminates a yet-to-be enacted law that would have withheld 3 percent of payments to government contractors to ensure that they pay their taxes. Business groups say it would interfere with their cash flow, and Congress has prevented it from taking effect since it was passed in 2006.
The bill's $9 billion price tag would be offset by tweaks to mortgage and healthcare programs.
President Obama hailed its passage, "I want to congratulate Republicans and Democrats in Congress for coming together to pass these tax credits that will encourage businesses to hire America's veterans.
(Excerpt) Read more at news.yahoo.com ...
Government programs do not create jobs. This is just more money down a rat hole.
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