President Obama's American Jobs Act will create jobs using ideas that have been supported by both Democrats and Republicans. Congress should pass right away to get the economy moving now. The plan would:
- Create incentives for small businesses to hire and grow from now into 2012.
- Make investments that would prevent layoffs of as many as 280,000 teachers, provide opportunities for long-term unemployed veterans, and put Americans to work rebuilding roads, railways, bridges, and schools in need of repair.
- Implement the most sweeping reforms to the unemployment insurance system in 40 years to help those without jobs transition to the workplace.
- Expand the payroll tax cut, cutting workers payroll taxes in half next year. This provision will provide a tax cut of $1,500 to the typical family.
- Be fully paid for as part of the President's long-term deficit reduction plan.