Obama gets specific in his jobs bill

Displaying a speed they hope communicates a sense of urgency, the White House on Monday afternoon sent to Congress legislative language designed to implement the jobs program outlined by President Obama only four days ago in his address to the nation. The 155-page bill includes the details of spending and taxes with a specificity rarely produced by a White House that has preferred to sketch in broad outlines while leaving the numbers to Congress.

In his accompanying message to Congress, the president insists that the bill is "fully paid for," adding, "The legislation includes specific offsets to close corporate-tax loopholes and asks the wealthiest Americans to pay their fair share that more than cover the costs of the jobs measures."

The bill includes several tax measures the administration contends would cover the costs of the programs proposed. But the White House, in an analysis and explanation prepared, states that none of these have to be implemented if the special super committee set up by last month's debt deal exceed their $1.5 trillion deficit reduction target by the $447 billion cost of the extra spending called for by the president.

Barring that, the measures outlined by the administration include several measures previously rejected by Congress under both Republican and Democratic control. These include putting a 28 percent cap on deductions and exclusions claimed by taxpayers with adjusted gross incomes above $250,000 for married couples and $200,000 for individual taxpayers. That would take effect Jan. 1, 2013.

Also, the administration wants to close loopholes affecting corporate jets, drilling for gas and oil, depletion on oil and gas wells, and modification of foreign tax credits.

The bill provides a look at the price tags the administration puts on many of the programs spoken of by the president in his address on Thursday to a joint session of Congress. It calls for the appropriation of $5 billion to rehire police, $25 billion to modernize and renovate public schools, $5 billion for community-college modernization, $2 billion for airport-development grants, $1 billion for FAA air-navigation facilities, $27 billion for highway repair and construction, $4 billion for passenger rail, $2 billion of Amtrak repair and upgrade, $6 billion for buses and bus facilities, $5 billion for surface-transportation projects, $3 billion for other transit projects, $15 billion for rehabilitating vacant and foreclosed houses, $7 billion to build and operate a nationwide public-safety broadband network, $4 billion for a program to give jobs to long-term unemployed, and $5 billion for a "Pathways Back to Work" fund.

The bill does not put a price tag on an extension of the current temporary reduction in the payroll tax for employees or on the proposed temporary tax credit for employers.

Stay up-to-date with federal news alerts and analysis — Sign up for GovExec's email newsletters.
Close [ x ] More from GovExec

Thank you for subscribing to newsletters from GovExec.com.
We think these reports might interest you:

  • Sponsored by Brocade

    Best of 2016 Federal Forum eBook

    Earlier this summer, Federal and tech industry leaders convened to talk security, machine learning, network modernization, DevOps, and much more at the 2016 Federal Forum. This eBook includes a useful summary highlighting the best content shared at the 2016 Federal Forum to help agencies modernize their network infrastructure.

  • Sponsored by CDW-G

    GBC Flash Poll Series: Merger & Acquisitions

    Download this GBC Flash Poll to learn more about federal perspectives on the impact of industry consolidation.

  • Sponsored by One Identity

    One Nation Under Guard: Securing User Identities Across State and Local Government

    In 2016, the government can expect even more sophisticated threats on the horizon, making it all the more imperative that agencies enforce proper identity and access management (IAM) practices. In order to better measure the current state of IAM at the state and local level, Government Business Council (GBC) conducted an in-depth research study of state and local employees.

  • Sponsored by Aquilent

    The Next Federal Evolution of Cloud

    This GBC report explains the evolution of cloud computing in federal government, and provides an outlook for the future of the cloud in government IT.

  • Sponsored by Aquilent

    A DevOps Roadmap for the Federal Government

    This GBC Report discusses how DevOps is steadily gaining traction among some of government's leading IT developers and agencies.

  • Sponsored by LTC Partners, administrators of the Federal Long Term Care Insurance Program

    Approaching the Brink of Federal Retirement

    Approximately 10,000 baby boomers are reaching retirement age per day, and a growing number of federal employees are preparing themselves for the next chapter of their lives. Learn how to tackle the challenges that today's workforce faces in laying the groundwork for a smooth and secure retirement.

  • Sponsored by Hewlett Packard Enterprise

    Cyber Defense 101: Arming the Next Generation of Government Employees

    Read this issue brief to learn about the sector's most potent challenges in the new cyber landscape and how government organizations are building a robust, threat-aware infrastructure

  • Sponsored by Aquilent

    GBC Issue Brief: Cultivating Digital Services in the Federal Landscape

    Read this GBC issue brief to learn more about the current state of digital services in the government, and how key players are pushing enhancements towards a user-centric approach.

  • Sponsored by CDW-G

    Joint Enterprise Licensing Agreements

    Read this eBook to learn how defense agencies can achieve savings and efficiencies with an Enterprise Software Agreement.

  • Sponsored by Cloudera

    Government Forum Content Library

    Get all the essential resources needed for effective technology strategies in the federal landscape.


When you download a report, your information may be shared with the underwriters of that document.