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Obama to sign bill to spur construction job growth

WASHINGTON (AP) — President Barack Obama is set to sign a jobs bill into law Thursday morning.

The bill contains two major provisions. First, it exempts businesses hiring the unemployed from the 6.2 percent Social Security payroll tax through December. It also gives employers an additional $1,000 credit if new workers stay on the job a full year. The Social Security trust funds would be reimbursed for the lost revenue.

Second, it extends highway and mass transit programs through the end of the year and pumps in $20 billion in time for the spring construction season. The money would make up for lower-than-expected gasoline tax revenues.

One comment

  1. David A. Wessely

    What job growth!!!! Highway construction contractors are mostly union and mass transit construction is not going to happen.
    What about good old fashion “Bricks & Mortar” ie. retirement communities, hospitals and affordable housing since the bulk of our society is at the threshold of ‘Senior Citizenship’ and cannot afford the homes we live in because of “UNDER-emplomentdestin

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