"Will The GOP Filibuster Tax Credits For Hiring Veterans?"
Senate Republicans have so far gone three for three when it comes to filibustering President Obama’s American Jobs Act, having successfully blocked the bill from moving in its entirety, and then prevented two of its components from advancing individually. The GOP’s obstruction comes as the economy continues to improve at a glacial pace, with just 80,000 jobs created last month.
Next week, Senate Democrats will try again, this time with the portion of Obama’s bill providing tax credits to businesses that hire veterans:
Senate Democrats plan to roll out the next piece of President Obama’s jobs creation legislation – this part on veterans – next week.
The bill is aimed at incentivizing companies to hire war veterans. It includes a tax credit to encourage companies to hire veterans as well as additional tax credits for hiring veterans with “service-connected disabilities.”
At the moment, unemployment for veterans stands at 7.7 percent, but is at a substantially worse 12.1 percent for post-9/11 vets (up from 10.6 percent a year ago). If nothing else, surely the GOP can see the wisdom in letting this particular bit of Obama’s jobs bill though. “It’s expected to pass. It should pass,” said Sen. Debbie Stabenow (D-MI).
Of course, while they would be an undeniable help, tax credits for veterans are not enough to create all the jobs necessary to bring the unemployment rate down. As Center for American Progress chief economist Heather Boushey said today, “at this point in the recovery we should be seeing upwards of 300,000 jobs created per month, but the economy only added a paltry 80,000 jobs in October and the three-month pace of job creation is only 114,000…Washington has yet to pass the American Jobs Act, which economists across the board agree will generate new jobs.”