Obama Unveils $447B Jobs Plan To Congress

Law360, New York (September 8, 2011, 9:35 PM EDT) -- Before a joint session of Congress on Thursday, President Barack Obama introduced a $447 billion package of tax breaks and spending initiatives aimed at improving a stalled economy and spurring job creation for long-term unemployed Americans.

Obama's American Jobs Act combines payroll tax cuts, an unemployment insurance extension, tax breaks for new hiring, mortgage relief, and funds to prevent teacher layoffs and hire construction workers to build new infrastructure.

The president hammered the idea to Congress that the package consists of ideas that Democrats and Republicans...
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