Related article ~ Senate Vote Friday ~ Obama Promotes Jobs Bill Before Scranton Crowd ..(Remember ..Put the millionaires' tax money to good use) ... 
Snip ~ “One of the things we certainly believe, as does almost 80 percent of the American people, (is) that there should be a contribution, ever be it so slight, by the wealthiest of the wealthy,” Reid said.
Tuesday, December 13, 2011House passes GOP payroll tax package amid White House veto threatThe House on Tuesday passed a bill combining an extension of the payroll tax cut with several GOP-favored provisions, including language to speed a decision on the Keystone XL oil sands pipeline, setting up a showdown with the White House, which has threatened to veto the measure. The measure passed late Tuesday on a 234-to-193 vote. Ten Democrats joined 224 Republicans in backing the measure, while 14 Republicans and 179 Democrats voted “no.”
All eyes are now on the Senate, which has twice this month shot down competing payroll tax measures offered by Democrats and Republicans. Senate Majority Leader Harry Reid (D-Nev.) reiterated Tuesday afternoon that the House GOP plan is “not going to pass over here” and said that he is “hopeful” leaders will huddle together to craft a compromise on paying for the extension and other measures.
“The only way you’re going to get something done over there is get some Democratic votes,” Reid said. “The only way I can get anything done over here is get some Republican votes. That seems to scream for compromise, and I believe that’s what we need to do.”
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The House Republican plan would extend for one year the reduction from 6.2 percent to 4.2 percent in payroll taxes for employees; it also would renew the “doc fix,” which prevents cuts in reimbursements to doctors who see Medicare patients, and would extend unemployment insurance, while gradually reducing the maximum length of time for benefits from 99 to 59 weeks.
If Congress doesn’t act to extend them, the payroll tax cut, doc fix and unemployment insurance are set to expire at the end of the year.
Amid opposition from some Republican rank-and-file members, however, GOP leaders crafted a package that would pair those extensions with some measures favored by conservatives, including speeding up a decision on the Keystone pipeline, authorizing the government to conduct spectrum auctions and delaying regulations governing industrial boiler emissions.
The GOP package also would require individuals who have not completed high school to enroll in a GED program in order to receive jobless benefits, and would give states the authority to make drug testing a requirement for applicants.
Republicans argued during Tuesday’s floor debate that the pipeline project would lead to the “immediate” creation of tens of thousands of jobs. Democrats have argued that that claim is inflated, and House Minority Whip Steny Hoyer (D-Md.) said earlier Tuesday that the Keystone pipeline provision “does have Democratic support, but not in this bill.”
“This is a partisan bill sticking the finger in the eye of those who disagree with the non-germane policies that are included, included simply for the purposes of energizing a small political base in their party,” Hoyer said at his weekly pen-and-pad briefing. “As I’ve said, the Republican Party now represents, in my view, the narrowest base of any party in the 45 years that I’ve been active in politics.”
The White House said in its veto threat that the GOP measure was a political move that “breaks the bipartisan agreement on spending cuts that was reached just a few months ago.”
Reid told reporters Tuesday afternoon that Senate Democrats discussed “a number of alternatives” to a surtax on millionaires, Democrats’ preferred method of paying for the payroll tax cut extension. He added that Democrats still back some way of requiring “shared sacrifice” from the wealthy.
“One of the things we certainly believe, as does almost 80 percent of the American people, (is) that there should be a contribution, ever be it so slight, by the wealthiest of the wealthy,” Reid said.
The payroll tax debate comes as Congress faces an even higher-stakes argument over keeping the government funded through late next year.
The measure currently keeping the government running expires on Friday, and leaders of both parties have begun accusing each other of using the funding bill as a bargaining chip in the negotiations over the payroll tax.
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Related to Taxes ~ Tax Holiday (Corporation) ~ Legislation calling for a 5.25 percent repatriation tax rate has bipartisan support in the Senate ....
Thank you to bama for the following ...
December 4, 2011
Compromise On Payroll Tax Cut Extension Coming On Monday, Democratic Senator Says
Sen. Kent Conrad, the chairman of the Senate Budget Committee, said on Fox News Sunday today that Sen. Harry Reid will offer a compromise proposal on Monday to extend the payroll tax cut into next year.
Democrats and Republicans rejected each others plans in dueling votes on Thursday night. Republicans wanted to extend a federal pay freeze, while Democrats wanted a surtax on incomes over $1 million to pay for the extension.Both parties say the question of extending the tax is not a question of whether, but of how to pay for it.Conrad promised that "It will be paid for, it will be in a way that is credible and serious," saying he discussed the proposal with Reid yesterday.He added that the Reid plan will be "serious attempt to move this ball forward because we should not have a tax increase on the middle income.
That just makes no sense in this economy."The extension of the tax cut is seen as vital for the economy by economists on both sides of the aisle, and allowing it to lapse would mean the average American family would see a $1,000 tax increase next year.
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Buy American Provision ~ This Web page contains guidance for financial assistance recipients regarding Buy American Recovery Act provisions under projects funded by the American Recovery and Reinvestment Act of 2009 and administered by the Office of Energy Efficiency and Renewable Energy (EERE). The Buy American provision in the American Recovery and Reinvestment Act of 2009 (section 1605 of Title XVI), provides that, unless one of three listed exceptions applies (nonavailability, unreasonable cost, and inconsistent with the public interest), and a waiver is granted, none of the funds appropriated or otherwise made available by the Act may be used for a project for the construction, alteration, maintenance, or repair of a public building or public work unless all the iron, steel, and manufactured goods used are produced in the United States. Read more about this @ link
Friday, December 02, 2011
Bill to buy American would net jobs, but at a price
Washington, A new bill requiring infrastructure materials to be bought domestically would bring jobs and money to Western Pennsylvania but could raise project costs nationwide.
The Invest in American Jobs Act of 2011, introduced on Thursday, would require that steel, iron and manufactured goods used for highways, bridges, public transit systems, railways and aviation infrastructure be produced in the United States.
The bill comes in response to the outrage over a multibillion-dollar contract being awarded earlier this year to a Chinese company to produce the steel for a California bridge. To minimize project costs, California navigated around existing Buy America provisions to purchase the cheaper foreign steel.
If passed, the bill could bring billions of dollars in future contracts to U.S. steel companies, many of which operate out of Western Pennsylvania. Every $1 billion of infrastructure spending creates 15,000-35,000 jobs, according to multiple studies.
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Although profitable for Western Pennsylvania, the bill might not create jobs or increase infrastructure on a national level, said University of Pittsburgh professor Steven Husted, formerly a senior staff economist on the President's Council of Economic Advisers.
"The biggest problem with this is you're raising your cost of building infrastructure," Mr. Husted said. "If you have to spend more on steel, you can't build as many roads, so you have less overall construction going on. There's only so much appropriated for projects."
The bill was introduced by Rep. Nick Rahall, D-W.Va., the ranking member of the House Committee on Transportation and Infrastructure. Rep. Jason Altmire, D-McCandless, also sits on the committee and said he fully supports the bill.
"There's a distinguishing issue between 'cheap' and 'cost-efficient,' " he said. "The most cost-efficient option is the best thing. We're not saying the industry can't make the cheap decision. They should just look [in the U.S.] first."
The bill allows for exceptions if the buying government applies for a waiver, publicly disclosing why it's not purchasing domestically and allowing for a period of public comment. The treasury secretary then may grant the waiver, but only after publishing a "detailed justification" in the Federal Register before it takes effect.
Mr. Altmire said the bill would require both lower costs and higher quality for a comparable foreign product to warrant a waiver. He suggested that foreign products are less dependable, making the extra cost of buying American worth it.
Democrats in the Republican-controlled House hope to include the act's provisions in any long-term bill that the majority pursues. If Republicans won't include it, Democrats are ready to push it as a stand-alone bill or an amendment to a bill.
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Snip ~ The payroll deduction extension is scheduled for a Senate vote Friday. He urged people to pressure senators to support it.
Remember .. Obama to Raise Taxes on US Millionaires ... And ..Put the millionaires' tax money to good use and creating the "National Infrastructure bank" ... And ..National Infrastructure Bank ~ Obama Mentions Infrastructure Again ~ Remember ~ 2009 Obama Infrastructure Bank Takes Shape ... And .. Obama's Infrastructure Bank ~ Links ~ What is it? What's The Plan? ... December 1, 2011Obama promotes jobs bill before Scranton crowdScranton, President Barack Obama delivered an enthusiastic defense of his jobs bill Wednesday before a raucous Scranton High School crowd of students, residents and activists.
The president said his American Jobs Act will grow the economy by 2 percent. The proposal seeks money for construction of roads, bridges and schools. He also calls for an extension of a payroll tax cut, set to expire at the end of the year, that he said has saved a typical family $1,000.
To pay for it, he proposes raising income taxes on those earning at least $1 million annually.
"It's paid for by asking our wealthiest citizens to pay their fair share," Obama said. "There is a problem. The folks in Congress haven't got the message."
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The payroll deduction extension is scheduled for a Senate vote Friday. He urged people to pressure senators to support it.
"This really should not be controversial," the president said. "The Republicans have supported this proposal in the past."
He suggested some Republicans oppose the payroll deduction now because they don't want to boost the economy when the president stands for re-election next year.
"I hope they don't want to just score political points," he said. "I'm in the Christmas spirit. I want to give them a chance to redeem themselves."
The president was upbeat. The capacity audience hung on his words and cheered frequently. One member of the national press corps remarked that there was much more enthusiasm among President Obama and the crowd, compared to his last Pennsylvania appearance in Pittsburgh on Oct. 11.
The president acknowledged that typical families are still reeling from a tough economy. He blamed past excesses on Wall Street and in the housing market, and a failure of Congress to act. He vowed to do all he can using his executive powers.
"We all know families making deep sacrifices just to get along," he said. "Here's the good news, Scranton: Just like you don't quit, I don't quit."
He pointed to reforms he said make it easier to repay student loans and an initiative to help returning veterans find jobs.
"You shouldn't have to fight for a job when you come home after fighting for America," the president said.
East Stroudsburg resident Paul Shemansky shook hands with the president immediately following the address, telling Obama he gave a good speech. Shemansky, an organizer with the Pennsylvania State Education Association teachers union, said the president is "offering ideas, instead of saying, 'No, we can't do that.'"
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