Jobs Bill

Hulse, C. (2010). Job bill passes in senate with 11 republican votes. Retrieved March 21, 2010 from: http://www.nytimes.com/2010/03/18/us/politics/18cong.html?partner=rss&emc=rss

This is a news story published on the New York Times website and tells the details of a bipartisan vote that approved legislation that is intended to help create jobs. The legislation would give employers incentive via payroll tax exemptions through the end of 2010 for each employee they hire that has been unemployed for at least 60 days. This part of the bill is estimated to costs $13 billion over 10 years because employers are expected to get credited for as many as five million employees; however, most of the employees would have been hired anyway and it is further estimated that only 200,000 new jobs will actually be created. Another aspect of the bill extends the federal highway construction program by shifting $20 billion for road and bridge building. This part is expected to make some positive impact on the jobs market and the economy because it creates a lot of good-paying construction jobs. The bill is being paid for in part by tightening rules of offshore tax havens; however, it is also largely funded with more deficit spending. Democrats are also considering legislation that would extend more than $30 billion in corporate tax breaks and aid to small business. The information in this article should be important to managers because it gives them some additional means to expand their business and take advantage of opportunities that will pass them by if they are not informed.