The $18 billion dollar Jobs bill cleared the Senate yesterday, with Massachusetts Senator Scott Brown one of five Republicans voting to break a Republican filibuster. The bill contains some good news for Massachusetts and will attempt to spur some job creation through tax incentives. The Washington Post gave a quick summary:
The bill’s centerpiece is a $13 billion program allowing companies to avoid paying Social Security taxes for the remainder of 2010 on new hires who have been unemployed for at least 60 days. Employers would also receive a $1,000 tax credit for each new worker who stays on the job for at least a year. Democrats tout the plan as a simple way to create tens of thousands of new jobs, though some experts dismiss it as too narrow to make a significant dent in the nation’s unemployment rate.
Senator Brown gave his rationale for voting to break the filibuster:
He said he “came to Washington to be an independent voice, to put politics aside. . . . This Senate jobs bill is not perfect. I wish the tax cuts were deeper and broader, but I will vote for it because it contains measures that will help put people back to work.”
Harry Reid gets a political victory. Lets see what happens in the House.