Senate to vote on modest jobs bill, passage likely
WASHINGTON (AP) -- The Senate is expected to hand Democrats a much sought-after victory today by passing a jobs-promoting bill.
The $35 billion measure pales in comparison to the House's $174 billion legislation and economists say its impact on hiring will be relatively modest.
Among the provisions is a tax break to companies that hire the unemployed. Economist Mark Zandi says that would create about 250,000 new jobs.
Also included in the bill is an extension of federal highway programs through the end of the year. And it makes a $20 billion cash deposit into the highway trust fund to make up for shortfalls from lower-than-anticipated gas tax revenues.
House Democrats passed their far larger measure in December and may consider the Senate's version too small. But they could simply adopt the Senate measure to get the win.