Their first week back in Washington after a summer break, lawmakers and federal officials turned their attention to job creation. President Obama announced his new jobs plan, the Senate passed a patent reform bill and Fed Chair Ben Bernanke spoke about the economy.
Next week, C-SPAN and c-span.org will cover several events focused on jobs, including a speech by House Speaker John Boehner on job creation at the Economic Club of Washington on Thursday, where he will discuss Republican ideas to create job growth. Their ideas include cutting taxes and reducing government regulations, which they say cost businesses money and impede job creation.
The House plans to take its first regulatory vote next week on ending a rule at the National Labor Relations Board; it is the first of 10 regulation- and tax-cutting measures House Republicans plan to hold votes on.
President Obama will continue his campaign to get Congress to pass his jobs proposal; he will travel to Columbus, Ohio Tuesday and to Raleigh, NC Wednesday.
One day after unveiling his job creation ideas, the President spoke at the University of Richmond Friday to discuss his ideas to jumpstart the economy and reduce the nation's 9.1% unemployment rate.
His remarks resembled the speech he gave Thursday evening before a joint session of Congress, where he repeatedly called on Congress to "pass this bill" -- The American Jobs Act -- immediately. His proposed legislation, which would cost $447 billion, is a combination of tax cuts for small businesses and individuals, employment for teachers and public safety professionals, and funding for infrastructure construction.
“This isn’t political grandstanding. This isn’t class warfare. This is simple math,” Obama said.
The proposal would give tax breaks to all small businesses, including a 50% payroll tax break. It would provide small business owners even more of a tax relief for those who hire new workers, especially veterans and the long-term unemployed.
More than $100 billion would be appropriated to repair schools, upgrade transportation and broadband infrastructure, and foreclosed homes. He proposed a government-backed infrastructure bank to help finance the construction projects.
Another aspect of the President’s proposal would provide money to states to hire teachers and provide summer employment for teens. It would extend unemployment insurance with some modifications and cut the payroll tax for another year.
"The time for gridlock and games is over, the time for action is now. Pass this bill," Obama told the crowd in Richmond, the district partially represented by House Majority Leader Eric Cantor.
House Speaker John Boehner said President Obama’s ideas “merit consideration.” He also said he hopes the President “gives serious consideration to our ideas as well.”
Federal Chairman Ben Bernanke said Thursday the Federal Reserve Board will consider new steps aimed at promoting economic growth at its September 21 meeting. Speaking at the Economic Club of Minnesota Thursday, Mr. Bernanke said lawmakers need to come up with a long term plan for deficit reduction and avoid cuts in the short term that may hurt economic growth.