Legislative Background on the Jobs Bill
Recent Action in Congress
The Obama Administration estimates that the American Recovery and Reinvestment Act (otherwise known as the economic stimulus package) has created or saved more 640,000 jobs. By early 2010, however, with unemployment hovering near 10 percent and despite other encouraging economic numbers, Congress and the Administration faced increasing pressure to act swiftly on job creation legislation. On December 8, President Obama proposed additional tax breaks and spending focused on infrastructure projects, energy conservation programs, and small businesses incentives as a way to spark hiring. House Action. On December 16, the House passed H.R. 2847, the Jobs for Main Street Act, by…
