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Senate votes to move ahead with 'jobs bill'; final vote March 17
Posted By Tina Grady Barbaccia On March 16, 2010 @ 1:38 pm In Economics,News & Analysis | No Comments
The U.S. Senate voted 61 to 30 on March 15 to end debate on the amended version of the “jobs bill” H.R. 2847 and proceed to a final vote on the measure Wednesday, March 17at 9:30 a.m. EDT, according to the National Stone, Sand & Gravel Association (NSSGA).
Six Republicans (Senators Kit Bond – Mo., Scott Brown – Mass., Richard Burr – N.C., Susan Collins – Maine, Jim Inhofe – Okla., and Olympia Snowe – Maine) voted for the bill while one Democrat, Nebraska’s Ben Nelson, opposed it, according to NSSGA.
The bill extends SAFETEA-LU through Dec. 31, 2010, transfers $19.5 billion into the Highway Trust Fund for interest that had been foregone on the balance, and restores the rescission of contract authority that took place when SAFETEA-LU expired on Sept. 30, 2009.
It also includes a payroll tax break for new hires, a small-business expensing provision, and Build America Bonds financing, which was expanded by the House this month, increasing the cost of the bill from $15 billion to $17.6 billion, says NSSGA.
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