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Next Dem Jobs Bill to Focus on Infrastructure

October 21, 2011 - by Donny Shaw

Majority Leader Harry Reid [D, NV] has selected the next piece of Obama’s jobs bill for Republicans and conservative Democrats to filibuster. Bloomberg:

Senate Majority Leader Harry Reid said he will advance the next piece of President Barack Obama’s rejected $447 billion jobs proposal, this time a $60 billion measure funding roads, bridges and other infrastructure.

Reid said he will seek a vote on the package, which would be financed by a 0.7 percent surtax on millionaires, during the week of Oct. 31. […]

The new proposal includes $10 billion to create a national “infrastructure bank” to leverage private and public capital for various projects. Senator Amy Klobuchar, a Minnesota Democrat, said the other $50 billion would fund infrastructure projects including $4 billion for rail, $9 billion for transit programs, and $27 billion for road, bridge, freight rail and port projects.

Some Republicans have expressed support for infrastructure bank proposals in the recent past. For example, Sen. John Kerry’s [D, MA] BUILD Act, which would provide government loans to leverage private investemnt in revenue-generating infrastructure projects, is basically identical to the infrastructure bank in the Obama jobs bill, and it has two Republican co-sponsors — Sen. Kay Hutchison [R, TX] and Sen. Lindsey Graham [R, SC]. However, Republicans are solidly against direct government funding of infrastructure projects and the small surtax on income above $1 million, so they’re going to filibuster this just like they did the full bill and the first piece Reid brought up. If there’s more to this jobs push than highlighting the Republicans’ obstructionism, Reid could try Kerry’s infrastructure bank plan on its own next. It’s pretty much the only true jobs bill out there with enough bipartisan support to potentially make it through both chambers anytime soon.

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infrastructure bank TAXES Harry Reid Jobs Stimulus stimulus jobs Taxes taxes harry reid Unemployment unemployment
 

Comments

Displaying 1-30 of 35 total comments.

  • AllenMills 10/25/2011 1:30pm
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    Why do Republicans oppose government funding of infrastructure projects? I"m not understanding the philosophical basis.

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  • RejectGovt 10/25/2011 2:50pm
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    The idea is that government funding of private enterprises is in line with communism. I have to say; by definition, they are right. We shouldn’t be spending even more taxpayer money on what is supposed to be a free and self-sustaining market. I agree with the republicans on this one; that is a horrible idea.

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    luminous 10/26/2011 1:38pm
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    Really, Their talking about roads and bridges not using the necromonicon to summon zombie stalin and zombie lenin from the grave to destroy capitalism.

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    RejectGovt 10/26/2011 4:53pm
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    Yeah, if you like the idea of using your tax dollars to fund “revenue-generating” projects (infrastructure or not)? That means the taxpayers are paying for something twice. If we want to stimulate jobs, we can’t keep taking more from the taxpayer. The government needs to step the eff back and just leave well enough alone as far as “creating” jobs out of thin air, (pretending we’re all naive and pretending that our government actually works for the 99%). If they want to do the 99% of us a real favor, they’ll eliminate all the favorable tax breaks for corporations and multi-millionaires and billionaires, close the foundation loop-hole, cut taxes for the lower and middle classes, and repeal corporate person-hood. The most common misconception of the current crisis is that is was because of too little regulation … in fact it has been over-regulated in favor of huge corporations and multi-national conglomerates by essentially selling-out our American Dream.

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    luminous 10/26/2011 6:54pm
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    The recession was cause not by “too little regulation” or by “over-regulation”. The recession was caused by the complete and total abdication of regulation.

    Structural separation(glass Steagall), leverage limits, CoI(conflict of interest) rules, limits on derivative positions, etc are all extremely important to a functional banking system, and it was deregulation that removed them and created the current situation(see: 1999 gramm beach billey act).

    I agree on getting rid of corporate personhood, be mindful that was created by the supreme court and at this point would require constitutional amendment to fix.

    ““revenue-generating” projects (infrastructure or not)?”

    Infrastructure creates what can be called collateral growth, that is it creates growth not directly for the entity that built it but for all of the entities around it. This type of economic entity isn’t functional as a private enterprise as it doesn’t put money into the pocket of that enterprise.

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  • chrismarklee 10/27/2011 2:37am
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    Folks Americans are hurting now. Job creation needs to be the focus. MY idea is do both demos and reps ideas at the same time.
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