Senator Claire McCaskill, a Democrat, has teamed up with Republican Senator Susan Collins of Maine to propose a jobs bill that they says is a bipartisan plan and a good compromise.
McCaskill says her bill would create jobs by cuting taxes for businesses, putting money into transportation infrastructure, charging a surtax on millionaires and end tax subsidies for the five largest oil companies. It also includes an extension of the Payroll Tax Cut.
“We can have arguments as to whether tax cuts should or shouldnt be paid for, we know paying for them makes it easier to get it passed, so thats why we turned to this option even though there are a lot of people in this building that steadfastly maintained and continue to maintain that you never have to pay for a tax cuts, they pay for themselves,” McCaskill says. “I don’t believe that, but some folks do.”
The surtax on those making more than $1 million a year would not apply to small business owners … she thinks that one way Republicans will be willing to vote for it.
She says the McCaskill-Collins bill would extend tax cuts for small businesses; cut federal red tape for manufacturers and employers; and strengthening federal job training programs.
“Americans are frustrated that Washington hasn’t been able to set aside partisan bickering long enough to agree on a realistic path forward to spur job creation, lower taxes, and boost our economy,” Collins says. “I have been saying for many months that we need to work to reach a consensus on a plan that will help employers create and preserve jobs. Ours is a bipartisan plan that would do just that.”