News Release
« BackSenate Passes Scaled Back Jobs Bill; More to Come
Tuesday, February 23, 2010
On Monday, February 22, the Senate secured by a 62-30 vote, including five Republicans, enough support to move a scaled back version of a "jobs" bill that included several tax and other provisions. The $15 billion measure contains an expansion of Section 179 Expensing, an item supported by One Voice that intends to help incentivize investment in domestic U.S. manufacturing facilities. The small bill, however, does not include a number of issues important to small businesses such as extending the R&D tax credit or addressing the estate tax and bonus depreciation.
Senate Majority Leader Harry Reid (D-NV) indicates he will try to move another jobs measure later this week that includes many more of the bipartisan priorities supported by the business community. This may include an extension of the current 65 percent federal COBRA premium subsidy to employees laid off from March 1, 2010, through Dec. 31, 2010—a subsidy available up to 12 months. Under current law, employees laid off from Sept 1, 2008, through Feb. 28, 2010, are eligible for a 15-month federal COBRA premium subsidy.
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