Lex Haris
Breakdown of Obama jobs plan (Sept. 8. 2011)

Tax breaks ($253 billion)

Half of payroll tax (3.1%) on first $5 million payroll; Full holiday for added workers or increased wages (how long?) ($65 billion)

100% expensing of investment: $5 billion

 

$4,000 for hiring LT unemployed ($8 billion)

 

Extend payroll tax for workers ($175 billion)

 

“Returning Heroes”: $5,600 to $9,600 to encourage hiring of unemployed veterans

 

 

Infrastructure: $105 billion

$50 billion: Immediate investment in infrastructure

 

$10 billion: iBank

 

$15 billion: construction workers on vacant and foreclosed homes

 

$30 billion investment in school infrastructure

 

Access to high-speed wireless

 

 

Aid to states ($35 billion)

$30 billion to prevent layoffs of 280,000 teachers

$5 billion for public safety and first responders

 

 

Safety Net: $54 billion

Unemployment Insurance programs ($49 billion)

Pathways back to work fund ($5 billion)

 

Regulations

Speeding up payments

Work with SEC to reduce burdens for raising capital

 

One: middle-class families need permanent tax relief. And two: I believe we can’t afford to borrow and spend another $700 billion on permanent tax cuts for millionaires and billionaires.” - President Obama