President Obama calls on Congress to pass Jobs Act
Web Producer: Brian Pryor
WASHINGTON D.C. (KGUN9-TV) - President Obama spoke to the nation and called on congress Thursday evening to pass his jobs bill.
The American Jobs Act is the Presidents plan for putting more people back to work and more money in the pockets of those who have jobs. Obama is hopeful that the act will create more jobs for construction workers, teachers, veterans, and for the long-term unemployed.
Part of the plan includes tax breaks for companies who hire new workers and it cuts payroll taxes in half for every working American and every small business. "It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. " said Obama.
Companies who hire an employee looking for a job for more than 6 months are eligible for a $4,000 tax credit if the act passes. A working family will receive a $1,500 tax cut next year.
The President also called on Congress to absorb the cost of the American Jobs Act into the cuts on Government Spending announced in July.