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Dec 06 2011

COLLINS, MCCASKILL INTRODUCE BIPARTISAN JOBS CREATION ACT

Senators working behind scenes on viable compromise bill, fully paid-for, to cut taxes and rebuild American roads and bridges

U.S. Senators Susan Collins and Claire McCaskill (D-Mo.) on Tuesday announced agreement on a commonsense jobs bill—The Bipartisan Jobs Creation Act—legislation aimed at creating jobs by cutting taxes for businesses, investing in the nation’s critical transportation infrastructure, and which is fully paid-for with a surtax on millionaires but with a “carve out” to help protect small business owners, and an end to tax giveaways to big oil companies. The proposal includes an extension of the Payroll Tax Cut.

“Americans are frustrated that Washington hasn’t been able to set aside partisan bickering long enough to agree on a realistic path forward to spur job creation and boost our economy,” Collins said. “I have been saying for many months that we need to work to reach a consensus on a plan that will help employers create and preserve jobs. Ours is a bipartisan plan that would do just that.”

“There are a lot of folks who think bipartisan compromise in Congress isn’t possible anymore, but I’m not willing to accept that,” McCaskill said. “Here is a prime example of what can be accomplished when Congress stops playing politics, and starts working together—a viable plan to put more Americans back to work, rebuild our crumbling infrastructure, and cut taxes for working Americans.”

The Senators’ compromise legislation—which they say is a commonsense, viable plan that can earn broad and bipartisan support—would put more Americans back to work by:

• Extending and expanding tax cuts for small businesses and American workers
• Providing an infusion of tens of billions of dollars to rebuild and repair American roads and bridges, and help ensure a safe water supply
• Cutting federal red tape for manufacturers and employers
• Consolidating and strengthening federal job training programs

`Collins’ and McCaskill’s bipartisan Jobs Bill would be paid for by ending unnecessary tax subsidies for big oil companies, and by enacting a 2-percent surtax on those who make more than $1 million per year—but with a “carve out” to protect small business owners, such as those who file as “subchapter S” corporations and pay their taxes on their individual income tax returns.


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