In The News

Senate OKs jobs bill after debate ends

The U.S. Senate officially passed a bill Wednesday, Feb. 24, aimed at creating infrastructure jobs and assisting businesses. Debate ended Monday when Sen. Majority Leader Harry Reid, D-NV, garnered the necessary support to move forward.

Reid’s bill came in the form of an amendment to House bill HR2847, and is scaled down significantly from a previous attempt to get a larger bill passed.

The U.S. House passed HR2847 back in December 2009. The two chambers must agree on final language before sending the jobs bill to President Obama’s desk for signature.

The House version of HR2847 would extend current highway spending through Sept. 30 of this year, while the Senate version calls for the extension to last through Dec. 31.

Political wrangling continues on just how long the highway programs should be extended.

The Highway Trust Fund, as it is currently funded, has been operating on a series of temporary extensions since September 2009.

U.S. Rep. James Oberstar, D-MN, chairman of the House Transportation and Infrastructure Committee, is pressuring for the September deadline so the House and Senate can complete a long-term highway bill that would last five or six years.

Senators have said during the past few months that they would prefer a longer temporary extension to buy time to find funding for a proposed $450 billion to $500 billion long-term bill.

Also of note in the Reid amendment is a provision for the federal government to issue Build America Bonds to pay for large-scale infrastructure projects. The Reid bill also contains provisions for small businesses to expense equipment as a tax write-off and calls for a payroll tax holiday to help employers retain workers.

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