Saturday, October 29, 2011

The House passes two minor parts of the Jobs bill

From the NYT:

On Thursday, the House passed a very modest measure to end a tax withholding program, one that had yet to affect a single American, but which President Obama has agreed should go. No word from the Senate yet — those members are back in their home states this week taking a breather from their legislative labors — but chances are the bill will clear that chamber, too.

. . . Outside of a few recent flashes of light — the passage of three trade bills this month, and an agreement on patent reform — there have been no big bipartisan jobs initiatives in this Congress.

Republicans have broadly rejected Mr. Obama’s sweeping proposal to cut some taxes, raise others and stimulate hiring through government spending, denouncing it as a stimulus measure doomed to harm the economy.

Senate Democrats have largely snubbed Republicans’ measures to repeal government regulations, saying such efforts will not create jobs. Further, the bipartisan Congressional committee charged with eliminating $1.2 trillion in federal debt has made little progress, for now, over how to get there.

On a related note, Congress' approval rating is 9%.