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Government
& Public Affairs Update
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Government &
Public Affairs Team
Reginald M. Turner
John
Van Fossen, Practice Group Leader
Lucius A. Vassar
Chris Wagner
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Democrats
Ready to Shift Focus From Health Care to Jobs
With President
Obama set to deliver his second State of the Union address tomorrow
that will emphasize the importance of jobs and tax cuts for
middle-class families and small businesses, Senate Democrats are
preparing an $80 billion proposal to address the President's goals
that could be ready for floor debate within the next two weeks.
Health care negotiations are in limbo following the special election
of Senator Scott Brown (R-MA) which reduced the Democrats'
filibuster-proof margin from 60 to 59. Adding to the
Democrats' problem is the House's unwillingness to forgo negotiations
by simply passing the Senate's version of the bill.
On Monday, Obama proposed the following elements of middle class
relief, which would likely be included in a future jobs bill:
- Expand the child tax credit
- Limit student loan payments
- Expand assistance for elder care
- Expand and make refundable tax credit
for retirement contributions.
The Senate's
job bill process has been going on since last summer when Senators
Byron Dorgan (D-ND) and Dick Durbin (D-IL) began soliciting proposals
from Democrats.
The Senate's draft jobs bill will be completely funded by unspent
bailout funds from the Troubled Assets Relief Program (TARP), and
will feature a number of tax credits aimed at small businesses to
encourage the hire of new employees, in addition to infrastructure
and clean energy projects that are expected to create new jobs.
The House passed a $154 billion jobs bill in December on a close
party-line vote, but indications are that the Senate wants to avoid
taking up another mammoth bill, and will likely pass House-included
measures like extending unemployment benefits and COBRA health
insurance benefits separately.
Senate Democrats will discuss its draft of the jobs bill during its
policy luncheon today.
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If you have
any questions concerning these issues, please contact Chris Wagner at
202.772.0924 or cwagner@clarkhill.com.
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To find out
more about Clark Hill and our Government & Public Affairs
Practice Group, visit clarkhill.com
or call 800.949.3124
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