An article in the National Journal reports that a 50-49 Senate vote on October 11, 2011, defeated the American Jobs Act bill created by President Obama to help jump start the economy.
As discussed in an earlier post on DevelopOhio.com, President Obama proposed the approximately $450 billion dollar American Jobs Act to Congress and the American people on September 8. A deficit reduction plan was added on September 19 that detailed how the cost of the jobs bill would be covered while stabilizing the national debt in the long run.
Although the American Jobs Act didn’t pass as a unified bill, pieces of the legislation may be reintroduced and possibly passed in the coming months. A payroll tax break is expected to lead the push for Senate approval, the article said.
For more information on specifics of the bill, please visit our earlier post here. For more on the Senate's vote, read the National Journal's article here.
The American Jobs Act dies in the Senate
