PROMOTING AMERICAN JOBS and Closing Tax Loopholes Act of 2010 in Senate June 8th

[1776Forever]

NHTF VOTE EXPECTED THIS WEEK
Take Action!
Please call or email your Senator TODAY!

Senate Majority Leader Harry Reid (D-NV) has indicated that debate on H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, will begin in the Senate as early as Tuesday, June 8. The version of this bill that passed the House on May 28 includes initial funding for the National Housing Trust Fund, as well as important provisions regarding the Low Income Housing Tax Credit program.

However, the Senate bill will be subject to amendment, so it is crucial that Senators hear from us that the NHTF and other housing provisions remain in any final bill. There will be objections about the bill's contribution to the federal deficit. Some Senators are advocating that Medicaid payments to the states and the extension of health insurance for the unemployed, which were dropped in the House, be added back. Still other Senators want to negotiate less of a tax increase on venture capitalists and hedge fund managers than is in the House bill.

The housing provisions in H.R. 4213 are among those that are offset by the tax increases in the bill that close loopholes and increase tax equity.

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Full document in .pdf form here:

http://waysandmeans.house.gov/media/pdf/111/America_Jobs_Summary.pdf

[Divine Discontent]

1. K&R - I've got a HECKUVA idea about how this country could save several hundred Billion (that's with

a B folks!).

It involves closing up some bases around the world, and bringing home a lot of troops. I'm glad to see that after a year and a half of saying it over & over on here, that the pentagon is finally increasing special ops forces over there, maybe that will help alleviate the need for all those troops.

I really hope HR 4213 passes and they put the millions back for the Medicaid and the tax increase is kept on the richie fund managers.

[1776Forever]

2. I am so with you - Here is what Cong. Alan Grayson said about this Bill

GRAYSON VOTES TO CREATE JOBS
Three Bills Spur Job Growth and Boost Military Benefits

http://grayson.house.gov/News/DocumentSingle.aspx?DocumentID=188555

May 28, 2010
Washington, DC

During a flurry of votes in the House of Representatives today, Congressman Alan Grayson (FL-8) voted to create new jobs, keep positions in America, and support our troops. Three key initiatives boosted the U.S. economy and job creation. They are the American Jobs and Closing Tax Loopholes Act, the America COMPETES Reauthorization Act of 2010 and the Defense Authorization Act.

Congressman Grayson said, “The way out of the recession is job creation. We created 12,000 new jobs in Orlando last month alone. But for someone who is unemployed, the unemployment rate is 100%. These bills will translate to jobs, jobs, and more jobs.”

The American Jobs and Closing Tax Loopholes Act will create or save more than a million American jobs by:

. restoring credit to small businesses,
. extending tax incentives for American research & development and energy,
. rebuilding American infrastructure,
. expanding summer jobs for young people,
. providing tax relief for middle class American families, and
. closing tax loopholes, which lead to companies exporting jobs.

Congressman Grayson is an original cosponsor of the COMPETES Act, which invests in modernizing manufacturing, spurs American innovation through basic research and development, and creates jobs with innovative technology loan guarantees for small- and mid-sized manufacturers. “Scientific and technological advances create and support a wide range of highly-skilled, high-paying jobs. The COMPETES Act will ensure we have the great minds needed to conceive the now unknown, and the workers required to create the seemingly impossible,” Grayson said.

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