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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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Comments

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jackiel29i 01/12/2012 9:37pm
in reply to RejectGovt Oct 25, 2011 2:50pm

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RejectGovt 10/25/2011 2:50pm

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.

blockbusternewreleases 11/28/2011 9:35am

I dont understand how the government can fund private enterprises. As previously mentioned, thats just pure communism..

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RiseArt 05/28/2012 2:37pm

Interesting proposal. I wonder if the US government invests in the art market at all? As one of the best performing asset classes in the past 10 years, it seems like a decent alternative as well. You can Buy Original Art Online for affordable prices here. What do you think about this as an alternative?

sjlogan88 03/08/2012 10:40am

It doesn’t look like any job bill is going to make it through both chambers anytime soon…
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AllenMills 10/25/2011 1:30pm

Why do Republicans oppose government funding of infrastructure projects? I"m not understanding the philosophical basis.

luminous 10/26/2011 1:38pm
in reply to RejectGovt Oct 25, 2011 2:50pm

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
in reply to luminous Oct 26, 2011 1:38pm

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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