On last night’s radio program, our Capitol Hill insider Elizabeth Letchworth predicted this. Today, she brings us up to date with highlights of the GOP’s version of the Jobs Bill.
Highlights of the GOP jobs bill.
- Lower the corporate tax rate to 25 percent, resulting in an additional 581,000 jobs per year, on average
- Reduce the tax on earnings brought back to the US, resulting in 2.9 million jobs
- Repeal Dodd-Frank, estimated to cost the US 4.6 million jobs by 2015
- Repeal Obamacare, estimated to cost the US economy at least 800,000 jobs
- Lift the offshore drilling moratoriaresulting in 1.2 million U.S. jobs
- Prohibit the EPA from regulating greenhouse gases, estimated to cost the economy 1.4 million jobs by 2014, and
- As a result of passing the free trade agreements with South Korea, Colombia and Panama, resulting in 250,000 new jobs
The Senate Democrats, via Sen. Schumer (D-NY) and vice-chair of the Senate Dem. conference, are rolling out a new plan/motto for the 2012 elections to go with their cornerstone “Pass my bill” jobs/stimulus bill. This aims to label the country’s problems as “Tea Party economics”
They will try to keep the buzz words “Tea Party recession and Tea Party gridlock” on the front burner.
The Senate GOP hope to unveil their jobs bill next week and get a vote on it by mid-week, assuming Sen. Reid doesn’t block it.
