photo: joelgoodman via Flickr
While today’s Senate Democratic press conference offered few details, a support document does explain the various different policies that will be introduced this year to deal with the nation’s jobs crisis. FDL News has obtained the document.
The “jobs agenda” Senate Democrats are forwarding includes five major headers:
Tax Incentives to Spur Immediate Job Growth: This includes the job creation tax credits and the “carry-back” tax credit for small business capital investments. However, included in this “tax incentive” section are extensions of both unemployment insurance and the COBRA subsidy for out-of-work Americans. Democrats would also try to fill funding for the Highway Trust Fund to allow for more infrastructure investment, and create “Build America Bonds” to allow states to float lower-cost bonds for public works projects.
Helping Small Businesses Grow and Hire More Workers: This includes the small business lending enhancements that the President unveiled earlier this week. It also includes “export promotion.” In the State of the Union address, President Obama talked about doubling US exports but offered few details. Neither does this document, outside of “identifying ready markets” and “promoting small business exports.”
Creating Jobs Through Energy Efficiency: This is essentially the “cash for caulkers” idea that has been kicked around. Grants would be offered for residential homeowners to do energy retrofits. There’s also a piece in here encouraging energy efficiency renovations at manufacturing plants.
Rebuilding America: Basically, infrastructure investment. The House bill included $50 billion; there’s no dollar sign attached to this document for the Senate. These grants would be for investment in transportation infrastructure, water, and schools.
Investing in Critical Public Services: This is basically aid to state and local governments for fiscal stabilization. The Obama budget earmarks about $25 billion for this purpose. There’s also support for summer youth job programs.
There doesn’t seem to be any bipartisan support for any of this, at least not confirmed, and with #41 Scott Brown set to be seated today, it’s unclear how much of this can actually move under normal Senate rules.
