Breaking News

Thursday, September 23, 2010

Senate Democrats take up one last Job Creation Bill but, it is not S.3706

Up to 5 Million Unemployed Job Seekers Continue to Wait
For the Senate to Hear Their Pleases to Pass S.3706
Senate Democrats have decided on September 22, to make one last push for a job creation bill, before going back to their prospective districts to prepare for the mid-term elections. The bill S.3816 -Creating American Jobs and Ending Offshoring Act, is expected to be brought to the Senate floor, by next week.

Another important job creation and unemployment insurance extension bill, S-3706-The Americans Want to Work Act, is currently being stalled within a Congressional committee, within the Senate. 

The bill, sponsored by Debbie Stabenow (D-MI) would provide a similar tax credit incentive in the form of $2000.00, for businesses to hire the long-term unemployed or 99ers (benefit exhausted jobless workers that supplement insurance payments received between 73-99 weeks). S-3706 would also provide up to 20 weeks of additional income payments to this group.

In contrast, S.3816- the "Creating American Jobs and Ending Offshoring Act," would provide payroll tax relief to companies, which hire employees domestically during a three-year period beginning September 22. 

Acting on a job creation measure before the mid-terms, President Obama recently begun touting this bill, as a quick and politically palatable measure to encourage companies to hire new workers. Progressive economic community members are skeptical, that it will be an quick fix to the current issues, in the nations' economy.

"We hope to have a vote on it by the end of next week," said Jim Manley, a spokesman for Senate Majority Leader Harry Reid (D-NV) to the Huffington Post. "This bill is very different then previous bills we have taken to the floor. We are optimistic it is going to enjoy more support than previous efforts relating to shopping jobs overseas," he stated.

Meanwhile, economic assistance for up to 5 million long-termed unemployed America job seekers, have been put on hold. 

The Americans 99ers Union, a grassroots coalition of 17 organizations representing unemployed job seekers, on September 22, staged a fax/call in campaign to each of the 50 elected Senators; requesting for S.3706 to be removed from committee and debated on the Senate floor. 

Leaders of this group believe that by passing the bill, it would provide an immediate and direct economic stimulus to the economy, but placing financial assistance dollars into the hands of millions, who have been without payments since April 2010.

Senate leadership is stalling an additional looming economic issue, on the back burner, until after the November 2, elections. Another group of jobless Americans, currently receiving unemployment compensation insurance on Tiers 1-4, benefits will expire in less than 10 weeks. 

President Obama signed the former legislation H.R.-4213- Unemployment Compensation Act of 2010, into law on July 23. The bill is set to expire on November 30th of this year. 

Currently, there are no bills proposed within the House or Senate to extend additional unemployment compensation insurance. Without an extension, up to 25 million unemployed job seekers, would not be allowed to move into the next Tier of benefits and, their payments would be frozen.

Supporters of the S.3816 legislation, cite an provision designed either to raise revenue or discourage companies from sending operations abroad, which would have an immediate impact on reducing the nations' 9.6 percent unemployment rate. 

A Senate Democratic aide to Senator Byron Dorgon (D-ND), stated to Huffington Post that there is a measure in the bill, which "basically eliminates deferral of taxes for companies that move overseas but continue to sell products back in the United States." 

Additionally the Senate aide noted a measure pushed by Sen Dick Durbin (D-IL), that would eliminate the deduction companies can take for business expenses that are associated with moving businesses overseas. "In other words," the aide said, "You can't count the cost of moving your plant overseas as a business expense."

Still, with the measures which a majority of Democrat Senators believe would improve job creation in America, Senate Republicans are still widely expected to vote against this bill, in preparation of the proximity of the 2010 Congressional elections. 

A majority of Republican Senators, filibustered the recently passed Small Business Jobs and Credit Act of 2010 (widely known as the Small Business Lending Bill) -H.R. 5267 and three previous versions of the unemployment compensation extension-H.R. 4213. 

Four Republican Senators broke party ranks to pass H.R. 5267 and H.R. 4213. Senators George Voinovich (OH) and George LeMieux (FL), who are not running for re-election this year, voted with the majority Democratic Senate to pass H.R. 5297

Additionally, Republicans Senators Olympia Snowe and Susan Collins (ME), who are not up for re-election this year, crossed over with the Democrats, break three previous filibusters, to pass H.R. 4213.
Enhanced by Zemanta

No comments :

Listen | Independent Underground Radio | On-Demand

IUNT's | Featured Post

Two Flint Emergency Managers Charged In Toxic Water Crisis Under Snyder's Authority

Photo Credit - Independent Underground News & Talk Michigan Governor Rick Snyder and his Flint Appointed Emergency Managers from (L...

Think Progress | Progressive Politics News

Michigan Politics & Elections | News

AlterNet | Economic News

Copyrighted by ROJS Media, LLC 2016