With the country's unemployment rate at 6.1 percent and likely to tick higher, job creation is key to any economic package introduced by presidential candidates or congressional leaders. Here's a look at some aspects of recent proposals aimed at creating more American jobs:
Sen. Barack Obama: The Democratic candidate for president announced an economic plan Monday that would include a $3,000 tax credit for businesses for each full-time domestic job created between 2009 and 2010, USA Today reports. Obama's 10-year plan would include spending $150 billion on alternative energy projects that would introduce 5 million new jobs, as well as create jobs with infrastructure spending.
Sen. John McCain: McCain yesterday introduced a rescue plan that would foster job creation through what he called "the most effective way a president can do this—with tax cuts that are directed specifically to create jobs and protect your life savings," the Los Angeles Times reports. The senator's plan would include cutting the maximum tax rate on long-term capital gains to 7.5 percent for two years. McCain's longer-term job creation plan includes lower corporate taxes, technology investment incentives, and controlling operating costs for small businesses.
House Speaker Nancy Pelosi: The California Democrat recently announced plans for an economic rescue plan that would most likely provide for job creation through a major road, bridge, and highway rebuilding program.
House Minority Leader John Boehner: The Ohio Republican wants Congress to speed up the process for granting energy companies leases to drill on the Outer Continental Shelf—a move that he says would speed up related job creation—and lower corporate taxes. Politico has the full text of Boehner's letter to Pelosi detailing the plan.
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nhat of DE 9:28AM October 18, 2008
HillbillyBill of TN 8:02AM October 16, 2008