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House Passes Small Part of Obama’s Jobs Bill

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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 04:03 PM
Original message
House Passes Small Part of Obama’s Jobs Bill
Source: NY Times

The House passed a small component of President Obama’s jobs package on Thursday, voting by a big margin to repeal a requirement that governments withhold 3 percent of payments to contractors to insure that they properly withhold taxes from their employees.

(...)

While the withholding requirement passed several years ago, it had yet to go into effect.

If it had been allowed to, it would mean “huge accounting burdens on governments and potentially harmful cash-flow disruptions for suppliers, contractors and subcontractors,” said Representative Eric Cantor, Republican of Virginia, the majority leader, on the House floor. “Those are dollars that could otherwise be used to grow a business or hire more workers.”

(...)

This requirement was originally adopted as a tax-compliance measure, and the Congressional Budget Office said its repeal would reduce federal revenues by $11 billion over 10 years. The measure passed 405 to 16, with only Democrats opposing.

Read more: http://www.nytimes.com/2011/10/28/us/politics/house-pas...



Roll Call 815: among the nays were Dennis Kucinich, Barbara Lee, Zoe Lofgren, Pete Stark, and Maxine Waters.
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Vincardog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 04:06 PM
Response to Original message
1. This withholding tax was because the contractors weren't paying their taxes. WTG wingnutz
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totodeinhere Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 04:47 PM
Response to Reply #1
3. You can say WTG wingnuts but remember this was Obama's proposal. It's a part of his jobs bill. n/t
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Vincardog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 05:40 PM
Response to Reply #3
5. I say no tax cut should be enacted until AFTER the jobs are created
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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 04:23 PM
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2. smashing victory for repubs who can now claim the high ground? nt
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totodeinhere Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 04:49 PM
Response to Reply #2
4. Hopefully people are too smart to fall for that. n/t
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Donny Donating Member (31 posts) Send PM | Profile | Ignore Thu Oct-27-11 07:51 PM
Response to Original message
6. Upside down fiscal logic in this economy.
By stripping out bits of the total balanced package, the end result will be passage of all the parts meant to appease the right and the progressive (see "sane") parts will be filibustered.

No matter what, the individual senators and "representatives" votes should be known to the masses.
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nykym Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-28-11 09:12 AM
Response to Original message
7. How soon they forget
In May of 06 229 republic's voted for this law, including Cantor & Bohener
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