American Jobs Act Can’t Find Footing
The American Jobs Act, introduced by President Obama in September 2011, was defeated 50-49 by the US Senate earlier this week. The Senate vote ends the possibility of the bill being adopted as a unified package. Senate Democrats are currently deconstructing the bill, hoping to pass discrete portions of the proposal. The provisions with the best chances of passage include a payroll tax reduction and a requirement for free trade agreements with South Korea, Columbia and Panama.
In response to the Senate’s no vote, the President admonished the GOP for not presenting its own plan for job creation.