March 17th, 2010
04:38 PM ET

Jobs bill passes, heads to Obama for signature

[Update 4:39 p.m.] President Obama is expected to sign the bill on Thursday.

Read the full CNNMoney.com story

[Posted 10:53 a.m.] Congress put the final seal of approval on a $17.6 billion job creation bill on Wednesday.

The measure, which has gone through many twists and turns in the House and Senate, now heads to President Obama for his signature. It passed the Senate Wednesday by a 68 to 29 vote.

The legislation will:

- Exempt employers from Social Security payroll taxes on new hires who were unemployed.

- Fund highway and transit programs through 2010.

- Extend a tax break for business that spend money on capital investments, such as equipment purchases.

- Expand the use of the Build America Bonds program, which helps states and municipalities fund capital construction projects. The bill is a slimmed down version of an $85 billion bipartisan measure crafted by the Senate Finance Committee last month. Senate Majority Leader Harry Reid, D-Nev., stripped out these four measures and put them into a separate bill, saying he hoped lawmakers would pass it more quickly.

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Filed under: Barack Obama • Congress • Economy • Jobs
soundoff (4 Responses)
  1. Brian

    The biggest thing the gov. could do to help the country, agriculture, business, reform, education, unemployment....everything.....would be to simply get out of the business of trying to help.

    March 17, 2010 at 5:51 pm | Report abuse |
  2. ToBrian

    Our country is based on law and our government is elected by us to serve us. It doesn't always get it right, but to suggest it should get out of the way is over simplistic and naive.

    I am hopeful that this Bill will have a positive impact to employment and states and municipalities that are struggling.

    March 17, 2010 at 8:37 pm | Report abuse |
  3. Rick

    During times of crises, government needs to play a bigger role, not "get out of the way".

    Tax the rich, but give tax breaks to those creating jobs, that's what I say.

    March 20, 2010 at 7:49 am | Report abuse |
  4. tracy

    Jobs.. First you need a good resume and still a cover letter to get you in the door for the creative interview. http://www.helpmyresume.org is a nonprofit. We have 3000 nationwide volunteers most unemployed rewriting cover letters and resumes and other programs for free. We believe we can employ people one resume at a time. American's are giving each other a hand up because there is no hand outs from the government or BP.

    July 5, 2010 at 12:04 pm | Report abuse |