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Job Creation

Feb 23, 2010:  Five Republican senators broke ranks with their party on Monday to advance a $35 billion job-creation measure put forward by Democrats, a rare bipartisan breakthrough after months in which Republicans had held together to a remarkable degree in an effort to thwart President Barack Obama’s agenda.   The bill offers companies a one-year holiday from paying a 6.2 percent Social Security payroll tax for each new worker who meets a 60-day unemployed criteria.”

The 62-30 vote — two more yeses than the minimum required to get past a procedural roadblock — cleared the way for the Senate to vote Feb 24 to approve the measure (passed 70-28), which Democrats said would create up to a quarter of a million new jobs at a time when the unemployment rate is hovering near double digits (9.7% = 15 million unemployed).

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