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Congress Should Pass Obama's Jobs Plan - Piece by Piece

Congress Should Pass Obama's Jobs Plan - Piece by Piece

The BriefGet Up To Speed

For many Americans, unemployment is at the top of that list. In the face of a double-dip recession and an unprecedented long-term unemployment rate, President Obama unveiled the American Jobs Act before Congress. His plan? Lower the unemployment rate and stimulate the economy with $447 billion in employer tax breaks, jobless reintegration, state aid, and infrastructure projects, to be paid for with taxes on corporations and the wealthy. Will this plan bring a fast, effective boost to the job market, or will higher taxes punish job creators and sink us further into debt?

  • Cecelia Rouse

    6 Items
    • Professor of Economics and Public Affairs, Woodrow Wilson School, Princeton University
    Read Bio

    An interview with economist Cecilia Rouse: Why she’ll argue for the motion, "Congress should pass Obama’s jobs plan—piece by piece,” at the Oct. 25 Slate/Intelligence Squared U.S. debate.

    Wednesday, October 19, 2011

    Cecilia Rouse, economics professor at Princeton and former member of President Obama's Council of Economic Advisers, said the president is proposing a "sensible" package of strategies while the private sector continues to struggle. Rouse said she was "particularly pleased" to see an extension in unemployment insurance for an additional year.

    Friday, September 9, 2011

    ABC News asked labor economists and former government officials to take a look at 10 proposals among the 42nd president's blueprint.

    Wednesday, June 29, 2011

    In these trying economic times, we should be looking for ways to effectively increase our investments in education, not cut them.

    Tuesday, August 23, 2011

    Testimony before the Joint Economic Committee discussing the Census Bureau’s release of data on income, poverty, and health insurance coverage in the United States in 2008.

    Thursday, September 10, 2009

    Testimony before the Subcommittee on Oversight of Government Management, United States Senate, presenting the main findings from the March 2010 CEA Report Work-Life Balance and the Economics of Workplace Flexibility, which discusses some of the changing patterns of the American workforce, the state of flexible work arrangements in our economy, and the economics of workplace flexibility.

    Tuesday, May 4, 2010
  • Mark Zandi

    3 Items
    • Chief Economist of Moody's Analytics
    Read Bio

    An interview with economist Mark Zandi: why he’ll argue for the motion, “Congress should pass Obama’s jobs plan—piece by piece,” at the Oct. 25 Slate/Intelligence Squared U.S. debate.

    Tuesday, October 18, 2011

    President Obama’s much-anticipated jobs plan is a laudable effort to support the struggling economy. The plan would go a long way toward stabilizing confidence, forestalling another recession, and jump-starting a self-sustaining economic expansion.

    Friday, September 9, 2011

    The economy is struggling to avoid recession. The political spectacle over the debt ceiling and Standard & Poor’s downgrade of Treasury debt have upended the already-fragile collective psyche. Consumers and businesses appear frozen in place. They are not pulling back yet, but to avoid a downturn it is vital for policymakers to act aggressively to stabilize sentiment.

    Friday, August 26, 2011
For the Motion
Monday, September 26, 2011
Jon Carson

The jobs bill will create nearly 2 million new U.S. jobs by doing what presidents and legislatures across the political spectrum have routinely done in times of labor market weakness: Enact short-term, temporary spending programs that have bipartisan support and are proven to work.

Wednesday, September 14, 2011
Heather Boushey and Gadi Dechter

President Barack Obama’s $447 billion jobs plan would help avoid a return to recession by maintaining growth and pushing down the unemployment rate next year, according to economists surveyed by Bloomberg News.

Wednesday, September 28, 2011
Timothy R. Homan
Against the Motion

The President’s jobs plan will call for more of the same discredited Keynesian strategies (with a smaller price tag) as contained in his 2009 stimulus bill—a costly and spectacular failure.

Wednesday, September 7, 2011
Patrick Louis Knudsen

Now that President Obama is on the campaign trail, touting another big stimulus bill, it's worth recalling how the last one became not just a costly failure but a comedy of errors.

Monday, September 19, 2011
Jim Powell

Any plan that would impose permanently higher tax rates on income to pay for temporarily lower tax rates on payrolls is no stimulus or jobs plan under any sort of economics.

Thursday, September 22, 2011
Alan Reynolds

Temporary policies will do little to jump-start the economy, much as earlier temporary economic Band-Aids, such as the 2009 stimulus, did little to improve the economy.

Monday, September 26, 2011
Harold L. Cole & Lee E. Ohanian
The American Jobs Act

On Thursday, September 8, President Obama outlined the details of the American Jobs Act during an address to a Joint Session of Congress. Read <a href="http://www.whitehouse.gov/sites/default/files/jobs_act.pdf">highlights</a>, a <a href="http://www.whitehouse.gov/the-press-office/2011/09/08/fact-sheet-and-ove... overview</a>, or the <a href="http://www.whitehouse.gov/sites/default/files/omb/legislative/reports/am... full text.</a>

Wednesday, December 31, 1969
The American Jobs Act: complete overview

The NYT provides a breakdown of the cost of the 447 billion dollar bill by tax cuts &amp; credits, employment projects, and infrastructure projects.

Friday, September 9, 2011
New York Times
Bureau of Labor Statistics

The number of unemployed persons, at 14.0 million, was essentially unchanged in September, and the unemployment rate was 9.1 percent. Since April, the rate has held in a narrow range from 9.0 to 9.2 percent.

Friday, October 7, 2011
Bureau of Labor Statistics
Senate Defeat of the American Jobs Act

The number of unemployed persons, at 14.0 million, was essentially unchanged in September, and the unemployment rate was 9.1 percent. Since April, the rate has held in a narrow range from 9.0 to 9.2 percent.President Obama climbs back on board his big, black armored bus this week to shore up his popularity in a couple of battleground states and revert to Plan B in his campaign to pass a $447-billion jobs package, focusing on specific elements of the bill that he wants Congress to approve right away.

Sunday, October 16, 2011
Peter Nicholas

Democrats have not yet determined which portions of the defeated bill will be spun off as separate proposals, but voting on pieces of the bill could begin as early as this month. Some proposals Democrats and Republicans might be able to agree on.

Wednesday, October 12, 2011
Meg Handley

Now comes phase two: beating up Republicans for standing in the way of job-creating legislation while using that pressure to hopefully at least get parts of the bill passed.

Wednesday, October 12, 2011
George Zornick
Senate Version of the American Jobs Act

It has the same job-creating measures as the President’s original jobs bill, however, with a surtax starting in 2013 of 5.6 percent on income exceeding $1 million. The bill is entirely paid for.

Wednesday, October 5, 2011
Harry Reid

CBO score of Harry Reid’s version of the American Jobs Act, which the CBO estimates would decrease deficits by $6 billion over the coming decade.

Tuesday, March 1, 2016
October 7
Senate GOP Alternative Jobs Plan

Read the press release and scroll down the page to read the jobs plan.

Thursday, October 13, 2011
John McCain

Senate Republicans have rolled out a jobs plan that amounts to a conservative’s dream agenda: targeting labor and environmental regulations, enacting a balanced-budget amendment to the Constitution, lowering corporate and individual tax rates, encouraging energy production and expanding free trade, according to a draft obtained by Politico.

Wednesday, October 12, 2011
Manu Raju

Senate Republicans have put out a sweeping plan they’re dubbing the “Real American Jobs Act.” It’s mostly a roundup of about two dozen GOP bills, but it also includes one significant new proposal that Republicans are billing as “comprehensive tax reform.” The GOP’s plan so far defers most of the concrete details — including how they’d pay for broad-based tax cuts — to later.

Thursday, October 13, 2011
Suzy Khimm
Job Plans From The House

House Republicans’ pro-growth agenda builds on the GOP Pledge to America, their governing agenda focused on job creation and economic growth. It addresses economic challenges, fostering innovation and investment, and helping job creators without raising taxes.

Wednesday, December 31, 1969

House Democrats’ Make it in America plan is billed as a way to create jobs, improve the roads and highways that move our goods, help businesses get the money needed to expand and create jobs, train and equip Americans to develop and build the products of the future, and make powering our homes, factories and cars more affordable and cleaner.

Wednesday, December 31, 1969

The Congressional Progressive Caucus introduced the Rebuild the American Dream Framework, which outlines six areas of focus for immediate and long term job creation: Make it in America Again, Rebuild America, Lead the Green Industrial Revolution, Jobs for the Next Generation, Not Just Jobs—Good Jobs, and Fair Taxes—Shared Sacrifice.

Tuesday, March 1, 2016
September 13
Taxes

President Barack Obama asked lawmakers to again consider increasing taxes for high earners, private equity managers and oil and gas companies to pay for his $447 billion job-creation package, running into Republican resistance along the way.

Tuesday, September 13, 2011
Richard Rubin

“As we continue to have a robust discussion about the President’s plans across our country, it’s important to understand exactly how they will affect Americans – from the middle class to the highest earners.”

Monday, September 26, 2011
Dan Pfeiffer

“…still, since not all of the reports about the Buffett Rule have been accurate, I want to clarify what we mean – and why the President believes this is an important principle. So let’s look at what this rule is and is not.”

Wednesday, September 21, 2011
Gene Sperling

President Barack Obama, in a populist step designed to appeal to voters, will propose a "Buffett Tax" on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday.

Sunday, September 18, 2011
Alister Bull

The rich don’t pay lower average tax rates.

Tuesday, September 20, 2011
Wall Street Journal

IRS data show the rich already pay more in federal taxes than the lower brackets.

Wednesday, September 21, 2011
Elizabeth MacDonald

Can tax cuts “pay for themselves,” inducing so much additional economic growth that government revenue actually increases, rather than decreases? The evidence clearly says no.

Thursday, October 13, 2011
Simon Johnson

Heritage Foundation economists explain why employment and the economy cannot be made to grow through higher taxes—and how crucial it is for Congress to recognize this fact.

Monday, September 20, 2010
William Beach

President Obama on Monday called for Congress to adopt his plan to reduce the federal deficit -- a package that includes $1.5 trillion in tax increases, primarily affecting wealthy individuals and American corporations. Experts debate the role of tax policy in the U.S. economy.

Monday, September 19, 2011
Room for Debate
Business Perspective

While the jobs plan President Obama proposed last week contains some ideas that American business supports, it falls short. It focuses too much on government spending and temporary tax breaks and too little on the trade, energy, tax, regulatory and entitlement reforms that will jolt our economy and job market back to life.

Friday, September 16, 2011
Thomas J. Donohue

The dismal state of the economy is the main reason many companies are reluctant to hire workers, and few executives are saying that President Obama’s jobs plan — while welcome — will change their minds any time soon.

Friday, September 9, 2011
Motoko Rich

While this bill is far from a silver bullet, it does hold a good deal of promise for small business owners.

Friday, September 16, 2011
Larry Nannis

While there is merit to the tax proposals (some of it already current law), the bill lacks electrifying and game-changing proposals.

Friday, September 9, 2011
Dean Zerbe
Education
Monday, September 12, 2011
National Journal
Super Committee

Congressional leaders have named the 12 members of the Joint Select Committee on Deficit Reduction, which is charged with coming up with recommendations to reduce federal budget deficits by at least $1.5 trillion over 10 years. The Times provides a look at where the members stand on issues that will likely be discussed and how they voted on recent budget bills.

Thursday, September 8, 2011
New York Times

As President Obama releases his plan for economic growth and deficit reduction, the Joint Select Committee on Deficit Reduction begins its work to find $1.5 trillion in deficit reductions. Brookings scholars discuss Obama's plan and the implications it has for the super committee and the U.S. economy.

Monday, September 19, 2011
Brookings Institution

The Super Committee's job is a challenging one, especially considering their November 23 deadline for a vote on a deficit reduction package. In addition to finding mandatory spending cuts and entitlement reforms, the committee faces significant hurdles in translating the broad income tax recommendations of the Fiscal Commission into legislative reality.

Wednesday, September 14, 2011
Alex Brill

Congress flooded its Super Committee with a jumble of advice Thursday about taming the government's out-of-control debt.

Thursday, October 13, 2011
Alan Fram and Mary Clare Jalonick
Polls

“By 45% to 32%, more Americans want their member of Congress to vote for rather than against a jobs bill similar to the one President Obama proposed last week, with the rest having no opinion.”

Wednesday, September 14, 2011
Frank Newport

A majority of Americans don’t believe President Barack Obama’s $447 billion jobs plan will help lower the unemployment rate.

Wednesday, September 14, 2011
Julianna Goldman
Additional Reading
Monday, September 19, 2011
Robert I. Lerman

This paper analyzes the current economic crisis and proposes a three-pillared recovery plan. The first is a five-to-seven year public investment program that repairs the nation’s crumbling public infrastructure. The second includes a debt restructuring program that addresses the banking and real estate sectors in particular. Finally, the authors propose global reforms that can begin the process of restoring balance to the world economy.

Monday, October 10, 2011
Daniel Alpert

This paper analyzes the state of the U.S. labor market over the past three decades to inform policymaking on two fronts. The first is to rigorously document and place in historical and international context the trajectory of the U.S. labor market, focusing on the evolving earnings, employment rates, and labor market opportunities for workers with low, moderate, and high levels of education. The second is to illuminate the key forces shaping this trajectory.

Thursday, April 1, 2010
David Autor