American Jobs Act
American Jobs Act
On September 8th, 2011, at a joint session of Congress, President Barack Obama delivered a speech. He talked about Americans' real-life concerns including looking for work, making ends meet, saving for gas or trying to make the mortgage, and sending their children to college. Then, he asked Congress whether in the face of an ongoing national crisis they can stop the political circus and actually do something to help the economy. Congress responded with applause and a standing ovation. The president went on to say that he sent the Congress a plan that they should pass right away, the American Jobs Act.
The kinds of proposals the American Jobs Act consists of are supported by both Democrats and Republicans, so it should not be controversial. "The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for long-term unemployed. It will provide -- it will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and if they hire, there will be customers for their products and services. You should pass this jobs plan right away," said Obama.
The Americans Jobs Act consists of four main points. Creating incentives for small businesses to hire and grow from now into 2012, making investments that would prevent layoffs of as many as 280,000 teachers, provide opportunities for long-term unemployed veterans, and put Americans to work rebuilding roads, railways, bridges, and schools in need of repair, implementing the most sweeping reforms to the unemployment insurance system in 40 years to help those without jobs transition to the workplace, and expanding the payroll tax cut, cutting workers payroll taxes in half next year. (This provision will provide a tax cut of $1,500 to the typical family). The act will be fully paid for as part of the president's long-term deficit reduction plan.