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Senate Preparing Test Vote on American Jobs Act

7:00 AM, Oct 10, 2011   |    comments
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WASHINGTON D.C. -- This week the Senate is expected to hold a key test vote on President Obama's jobs bill.

The 447-billion-dollar bill will cut payroll taxes, extend unemployment benefits, give tax credits for raising wages, hiring out of work veterans or hiring the long term unemployed.

The bill would also help keep public workers on the job and invest in rebuilding schools and roads.

The White House says passing the bill is a top priority for the White House, but Republicans say it's the wrong prescription for the economy.

Republican Representative Paul Ryan says, "We have a difference of opinion with the White House on how best to create jobs. We don't think doubling down on failed stimulus policies which have already proven to fail is the right way to go."

Economists say some of the bill's provisions, like the payroll tax cut for employers -- would add jobs, but the exact number of jobs remains unknown.  

CNN

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