Wednesday, the Senate sent the $18 billion jobs bill to the White House for President Obama’s signature. The jobs bill is intended to boost the economy. White House officials say that Obama is expected to sign the jobs bill on Thursday.
The measure passed the Senate with a 68 to 29 vote. This is the second time the jobs bill passed through the House, changes were made to the first draft.
The jobs bill is the first legislation designed to directly impact unemployment, and the $18 billion price tag is substantially smaller than 2009’s economic stimulus package.
The bill offers tax credits to employers for employees who remain for longer than a year. The bill also includes a one-year extension of the federal transportation fund. The largest part of the bill includes a break for companies paying social security taxes for the rest of the year for new workers that had been unemployed for at least 60 days prior.
The unemployment in the state of Utah has been steadily rising over the past few months. In December, the Utah unemployment rate was 6.7%, up from 6% in August. Most unemployed Utah residents take advantage of unemployment benefits if they are eligible. They depend and rely on that money while looking for work.
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Source: Washington Post
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