In December, the House passed the Jobs for Main Street Act which aims to create or save jobs through investments for highways and transit, school renovation, hiring teachers, police, and firefighters, small business, job training and affordable housing. These investments would be paid for by redirecting TARP funds from Wall Street to Main Street.
Yesterday, Senate Democrats released their own jobs agenda that they plan to bring up for a vote next week. They intend to move their jobs proposals through the Senate in a series of smaller bills, rather than a multi-billion bill like the one passed by the House in December. The first of these smaller bills (tax incentive to spur job growth) is scheduled to come up for debate on Monday with the goal of passing it by the end of the week, according to Senate Majority Leader Harry Reid.
Among the items on Senate Democrats’ jobs agenda:
- Tax credits to encourage small businesses to hire employees and buy new equipment
- Money to encourage construction projects by state and local governments, including school construction
- Extending healthcare subsidies and unemployment payments for the jobless
- Incentives to weatherize buildings
- Aid to cash-strapped state and local governments to avoid further layoffs of teachers and other public employees
- Summer Youth Jobs Program and Dislocated Worker Training Program