Senate Democrats are teeing up yet another vote next week on a provision of President Obama’s jobs bill. This time with a twist — they’re not going to ask that it be paid for with a surtax on millionaires.
They’re calling this one the “Vow to Hire Heroes Act of 2011.” A version of it passed the House on an overwhelmingly bipartisan basis last month. It would offer a tax credit to companies that hire out of work veterans and increase an existing credit that already goes to companies that hire veterans with service-related disabilities. Dems propose to cover the $1.6 billion cost of the bill by delaying fee reductions that are scheduled to apply to mortgage loans guaranteed by the Department of Veterans Affairs.
They also plan to attach the bill to separate, House-passed legislation to repeal a requirement that the IRS withhold three percent of payments from major contracts, in order to encourage compliance with the tax code.
Republicans pay for that measure by limiting increased Medicaid eligibility under the health care law.
These are two of the small ticket items in the President’s jobs bill. But since Democrats aren’t seeking to raise taxes on wealthy Americans it stands a better chance of getting GOP support.
Brian Beutler
Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight, and the debt limit fight. He can be reached at brian@talkingpointsmemo.com.
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