In a rare move of semi-solidarity, both Republicans and Democrats in the U.S. Senate approved a $15 billion initiative intended to spur job creation and growth. Of course, that amount is still $5 billion less than the total amount of bonuses doled out by Wall Street banks last year.
In spite of the relatively small scale of the bill, it’s being haled as a good omen that Republicans and Democrats can work together on the issue of combating unemployment.
“For the first time in a long time, we have a bill that is supported by both Democrats and Republicans,” said Sen. Chuck Schumer from New York said about the measure, that passed with a vote of 70-28. It’s now onto the House of Representatives for review.
Hunky new Massachusetts Senator Scott Brown was a little more reserved than Schumer.
“This jobs bill is far from perfect, and ideally would include deeper and broader tax cuts,” the newbie Senator said in a statement, adding that if the House returns the measure “to the Senate full of pork, waste, fraud and abuse, I reserve the right to vote against it.”
The major provision of this bill provides a temporary payroll tax exemption for each newly hired employee who had been previously unemployed for 60 days or more.