All Articles Tagged "jobs stimulus"
Rich Will Find Jobs Plan More Taxing Than Others
(New York Times) — To pay for his $447 billion jobs bill, President Obama is once again proposing an assortment of tax increases on wealthy individuals and corporations. But the White House also says its plan should be viewed as a rough framework, because its top priority is to get the jobs bill enacted. If Congress approves the president’s jobs plan, it could instead pay for it with other spending cuts or tax increases if that is what the Congressional committee on deficit reduction recommends later this fall. The bulk of the additional tax revenue under Mr. Obama’s proposal would come from the wealthiest 1.5 percent of taxpayers — individuals with adjusted gross income over $200,000, families with more than $250,000 — who would face new limits on their itemized deductions for such things as charitable contributions and state and local taxes. The initiative is similar to one made by the president during the debt ceiling negotiations two months ago and rebuffed by Congressional Republicans.
What Jobs Plan Means for Small Business
(Entrepreneur) — If job creation starts with the smallest businesses, here are a few measures that may get the ball rolling more quickly. In his address to a joint session of Congress last night, President Barack Obama laid out a wide-ranging — if not gutsy — plan for trimming U.S. unemployment rolls and putting U.S. workers back in paying jobs. In addition to assisting the long-term unemployed and veterans, the bill, called the American Jobs Act, proposes to provide federal aid to many of the nation’s small-business owners. ”Everyone here knows that small businesses are where most new jobs begin,” President Obama said in his speech. “For everyone who speaks so passionately about making life easier for ‘job creators,’ this plan is for you.”
Blacks Express Enthusiasm for New Jobs Strategy
(AP) — President Barack Obama’s jobs pitch is already playing well with blacks, who had grown plenty irked with him over what they perceived as his indifference to their needs. A day after Obama laid out before Congress his plan to kick-start job growth, many blacks hoped it would translate into reduced misery for them over the coming months. While the country’s unemployment rate stands at 9.1 percent, black unemployment has hit 16.7 percent, the highest since 1984. Unemployment among male blacks is at 18 percent, and black teens are unemployed at a rate of 46.5 percent. The early signs of their reaction were positive. Social media sites were abuzz with highlights from the president’s plan. Amid the comments were excited responses to the proposal, especially from the black community. Twitter was full of similar bursts of excitement over the plan, with some black Tweeters defending the president and applauding his message. One user tweeted: “Taking a sharp tone ’cause the NumbersDontLie! Pass this bill and put America back to work.”
Georgia Works: A Snapshot
(AJC) — In the search for ways to put Americans back to work, President Obama looked to a program created in Georgia eight years ago, Georgia Works. Unlike many proposals put forward by either Republicans or Democrats, this one appears to have bipartisan support. Here’s a snapshot of how it works.
The basics: Georgians receiving unemployment benefits are matched with employers who are seeking employees and who agree to provide up to eight weeks of training. The employers do not pay the workers, who work no more than 24 hours a week; instead workers continue to receive their unemployment checks and a $240 stipend to help cover transportation, child care and other expenses.
Fact Sheet: What the Jobs Bill Does for Blacks
(White House) — The American Jobs Act reflects a commitment to strengthen the recovery and help increase access to jobs for all Americans. With unemployment among African-Americans at an unacceptably high rate of 16.7 percent – and 1.4 million African-Americans out of work for more than six months – the President believes that inaction is not an option. That’s why the President is putting out a plan to increase the pace of job creation, and why he is committed to fighting for Congress to act on this plan. These measures – which will expand opportunities for the long-term unemployed to reenter the workforce, provide incentives for businesses to hire, and make investments in revitalizing schools, infrastructure and neighborhoods – will help create new job opportunities in African-American communities and across the country. For example:
—The extension of unemployment insurance will benefit 1.4 million African-Americans and their families. At the same time, the President is proposing bipartisan reforms that will enable that – as these families continue to receive UI benefits – the program is better tailored to support reemployment for the long-term unemployed.
Obama Plans a Job Stimulus
(Bloomberg) — President Barack Obama is seeking to revive a version of the so-called grand bargain with congressional Republicans that would combine long-term U.S. deficit reduction through entitlement benefit cuts and tax increases with immediate steps to boost job growth. Obama plans to press Congress for billions of dollars in fresh spending to reduce unemployment as he also pursues a compromise on long-term deficit cuts. He will begin by laying out his ideas in a speech shortly after the U.S. Labor Day holiday, which is Sept. 5. With the U.S. unemployment rate at 9.1 percent and economic growth slowing, Obama’s aides are working on a mix of tax cuts and infrastructure spending beyond the measures he has been promoting over the last several weeks, an administration official said, speaking on condition of anonymity because details for the speech haven’t been completed.
