Dry high pressure will remain over the region before a moist cold front crosses the area from the west late Monday into Tuesday. Cooler Canadian high pressure will build in Wednesday and persist through the end of the week.
THREE DAY GFS FORECAST
This animated image shows a forecast of precipitation, air pressure and thickness level (cold-air damming) for three days in six-hour increments.
Green, Yellow, and Red indicate rain. Orange and Purple Indicate Freezing Rain or other freezing precipitation. Blue indicates snow.
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Weather Hazards
Hazardous weather is not expected today.
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Forecast maps for 7 am, 1 pm, and 7 pm.
[click on any image in this article to enlarge]
FRANKLIN AREA FORECAST
Today
Mostly sunny, with highs in the upper 50s. Light winds out of the northwest.
Tonight
A 20 percent chance of rain after 4am. Patchy fog after midnight. Otherwise, mostly cloudy, with lows around 40. Winds out of the southeast around 6 mph.
Monday
A slight chance of rain before 7am, then a chance of showers, mainly after 10am. Patchy fog in the morning. Otherwise, mostly cloudy, with highs near 60. Winds out of the south 5 to 10 mph. Chance of precipitation is 40%. New precipitation amounts of less than a tenth of an inch possible.
Monday Night
Showers, mainly after 8pm. Lows around 50. Winds out of the south around 6 mph. Chance of precipitation is 100%. New precipitation amounts between three quarters and one inch possible.
Tuesday
Showers likely, mainly before 10am. Mostly cloudy, with highs in the mid-50s. Winds out of the northwest 5 to 10 mph. Chance of precipitation is 70%.
Tuesday Night
Partly cloudy, with a low around 25.
OTTO AREA FORECAST
Today
Mostly sunny, with highs in the mid-to-upper 50s. Winds out of the northwest around 5 mph.
Tonight
A 20 percent chance of rain after 1am. Patchy fog after midnight. Otherwise, mostly cloudy, with lows in the lower 40s. Winds out of the south 5 to 10 mph, with gusts as high as 20 mph.
Monday
A 40 percent chance of showers. Patchy fog in the morning. Otherwise, mostly cloudy, with a high near 60. Winds out of the south 5 to 10 mph. New precipitation amounts of less than a tenth of an inch possible.
Monday Night
Showers, mainly after 8pm. Lows around 50. Winds out of the south 5 to 10 mph. Chance of precipitation is 100%. New precipitation amounts between 1 and 2 inches possible.
Tuesday
Showers likely, mainly before 10am. Mostly cloudy, with highs in the mid-to-upper 50s. Winds out of the northwest 5 to 10 mph. Chance of precipitation is 70%.
Tuesday Night
Partly cloudy, with lows in the mid-20s.
HIGHLANDS PLATEAU FORECAST
Today
Mostly sunny, with highs near 50. Winds out of the northwest 10 to 15 mph.
Tonight
A 20 percent chance of rain after 11pm. Patchy fog after 1am. Otherwise, mostly cloudy, with lows around 40. WInds out of the southwest 10 to 15 mph, with gusts as high as 25 mph.
Monday
A 40 percent chance of showers, mainly after 8am. Patchy fog before 8am. Otherwise, mostly cloudy, with highs in the mid-50s. Winds out of the southwest 10 to 15 mph, with gusts as high as 30 mph. New precipitation amounts of less than a tenth of an inch possible.
Monday Night
Showers. Lows in the mid-to-upper 40s. WInds out of the south 15 to 20 mph, with gusts as high as 30 mph. Chance of precipitation is 90%. New precipitation amounts between 1 and 2 inches possible.
Tuesday
Showers likely, mainly before 10am. Mostly cloudy, with highs in the lower 50s. Winds out of the northwest 20 to 25 mph, with gusts as high as 35 mph. Chance of precipitation is 70%.
Tuesday Night
Partly cloudy, with lows in the mid-20s. Blustery.
NANTAHALA AREA FORECAST
Today
Mostly cloudy, then gradually becoming sunny, with highs in the lower 50s. Winds out of the west 5 to 10 mph.
Tonight
A 20 percent chance of rain after 4am. Patchy fog after midnight. Otherwise, mostly cloudy, with lows in the lower 40s. Winds out of the southwest 5 to 15 mph, with gusts as high as 25 mph.
Monday
A 50 percent chance of showers. Patchy fog before 8am. Otherwise, mostly cloudy, with highs in the upper 50s. Winds out of the south 5 to 10 mph. New precipitation amounts of less than a tenth of an inch possible.
Monday Night
Showers. Lows in the mid-to-upper 40s. Winds out of the south 10 to 15 mph, with gusts as high as 20 mph. Chance of precipitation is 100%. New precipitation amounts between 1 and 2 inches possible.
Tuesday
Showers likely, mainly before 10am. Mostly cloudy, with highs in the lower 50s. Winds out of the northwest 10 to 15 mph, with gusts as high as 20 mph. Chance of precipitation is 70%.
In my opinion, we are well and truly screwed. Every member of the Republican House who voted for this legislation should be replaced in the next primary election. Now, the news...
Transcript:
11:20 P.M. EST
THE PRESIDENT: Happy New Year, everybody.
AUDIENCE: Happy New Year, Mr. President.
THE PRESIDENT: A central promise of my campaign for President was to change the tax code that was too skewed towards the wealthy at the expense of working middle-class Americans. Tonight we've done that. Thanks to the votes of Democrats and Republicans in Congress, I will sign a law that raises taxes on the wealthiest 2 percent of Americans while preventing a middle-class tax hike that could have sent the economy back into recession and obviously had a severe impact on families all across America.
I want to thank all the leaders of the House and Senate. In particular, I want to thank the work that was done by my extraordinary Vice President Joe Biden, as well as Leader Harry Reid, Speaker Boehner, Nancy Pelosi, and Mitch McConnell. Everybody worked very hard on this and I appreciate it. And, Joe, once again, I want to thank you for your great work.
Under this law, more than 98 percent of Americans and 97 percent of small businesses will not see their income taxes go up. Millions of families will continue to receive tax credits to help raise their kids and send them to college. Companies will continue to receive tax credits for the research that they do, the investments they make, and the clean energy jobs that they create. And 2 million Americans who are out of work but out there looking, pounding the pavement every day, are going to continue to receive unemployment benefits as long as they’re actively looking for a job.
But I think we all recognize this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. The fact is the deficit is still too high, and we're still investing too little in the things that we need for the economy to grow as fast as it should.
And that's why Speaker Boehner and I originally tried to negotiate a larger agreement that would put this country on a path to paying down its debt while also putting Americans back to work rebuilding our roads and bridges, and providing investments in areas like education and job training. Unfortunately, there just wasn’t enough support or time for that kind of large agreement in a lame duck session of Congress. And that failure comes with a cost, as the messy nature of the process over the past several weeks has made business more uncertain and consumers less confident.
But we are continuing to chip away at this problem, step by step. Last year I signed into law $1.7 trillion in deficit reduction. Tonight’s agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households in America. And there will be more deficit reduction as Congress decides what to do about the automatic spending cuts that we have now delayed for two months.
I want to make this point: As I've demonstrated throughout the past several weeks, I am very open to compromise. I agree with Democrats and Republicans that the aging population and the rising cost of health care makes Medicare the biggest contributor to our deficit. I believe we've got to find ways to reform that program without hurting seniors who count on it to survive. And I believe that there’s further unnecessary spending in government that we can eliminate.
But we can't simply cut our way to prosperity. Cutting spending has to go hand-in-hand with further reforms to our tax code so that the wealthiest corporations and individuals can't take advantage of loopholes and deductions that aren't available to most Americans. And we can't keep cutting things like basic research and new technology and still expect to succeed in a 21st century economy. So we're going to have to continue to move forward in deficit reduction, but we have to do it in a balanced way, making sure that we are growing even as we get a handle on our spending.
Now, one last point I want to make -- while I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they passed. Let me repeat: We can't not pay bills that we've already incurred. If Congress refuses to give the United States government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic -- far worse than the impact of a fiscal cliff.
People will remember, back in 2011, the last time this course of action was threatened, our entire recovery was put at risk. Consumer confidence plunged. Business investment plunged. Growth dropped. We can't go down that path again.
And today’s agreement enshrines, I think, a principle into law that will remain in place as long as I am President: The deficit needs to be reduced in a way that's balanced. Everyone pays their fair share. Everyone does their part. That's how our economy works best. That's how we grow.
The sum total of all the budget agreements we've reached so far proves that there is a path forward, that it is possible if we focus not on our politics but on what’s right for the country. And the one thing that I think, hopefully, in the New Year we'll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship, not scare the heck out of folks quite as much.
We can come together as Democrats and Republicans to cut spending and raise revenue in a way that reduces our deficit, protects our middle class, provides ladders into the middle class for everybody who’s willing to work hard. We can find a way to afford the investments that we need to grow and compete. We can settle this debate, or at the very least, not allow it to be so all-consuming all the time that it stops us from meeting a host of other challenges that we face -- creating jobs, boosting incomes, fixing our infrastructure, fixing our immigration system, protecting our planet from the harmful effects of climate change, boosting domestic energy production, protecting our kids from the horrors of gun violence.
It’s not just possible to do these things; it’s an obligation to ourselves and to future generations. And I look forward to working with every single member of Congress to meet this obligation in the New Year.
And I hope that everybody now gets at least a day off, I guess, or a few days off, so that people can refresh themselves, because we're going to have a lot of work to do in 2013.
Congress approved a plan to end Washington’s long drama over the “fiscal cliff” late Tuesday after House Republicans surrendered to President Obama’s demand to let taxes rise on the nation’s richest households.
The House voted 257 to 167 to send the measure to Obama for his signature; the vote came less than 24 hours after the Senate overwhelmingly approved the legislation.
House Speaker John A. Boehner (Ohio) and most other top GOP leaders took no public position on the measure and offered no public comment before the 10:45 p.m. vote. Boehner declined even to deliver his usual closing argument, leaving House Ways and Means Committee Chairman Dave Camp (R-Mich.) to defend the measure as the “largest tax cut in American history.”
The bill will indeed shield millions of middle-class taxpayers from tax increases set to take effect this month. But it also will let rates rise on wages and investment profits for households pulling in more than $450,000 a year, marking the first time in more than two decades that a broad tax increase has been approved with GOP support.
The measure also will keep benefits flowing to 2 million unemployed workers on the verge of losing their federal checks. And it will delay for two months automatic cuts to the Pentagon and other agencies that had been set to take effect Wednesday.
See for yourself who voted for and against the legislation, and who ran and hid: (I have identified the representatives from North Carolina in red to make them more easily identifiable)
FINAL VOTE RESULTS FOR ROLL CALL 659
(Republicans in roman; Democrats in italic; Independents underlined)
H R 8 RECORDED VOTE 1-Jan-2013 10:57 PM QUESTION: On Motion to Concur in the Senate Amendments BILL TITLE: To extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and for other purposes
At 11am, House Budget Committee Chairman Paul Ryan will deliver remarks on the fiscal situation and economic challenges faced by the United States. These remarks will be followed by a question-and-answer period hosted by AEI President Arthur C. Brooks.
Here is a preview:
House Budget Committee Chairman Paul Ryan details what the choice of two futures means: a path to debt and decline versus a stronger, more prosperous path of less debt, lower taxes, and greater opportunity for generations to come.
And here is the live video player video of the event:
The President and his party’s leaders refuse to take action in the face of the most predictable economic crisis in our nation’s history. The President’s budget calls for more spending and more debt, while Senate Democrats – for over 1,000 days – have refused to pass a budget. This unserious approach to budgeting has serious consequences for American families, seniors, and the next generation.
House Republicans refuse to ignore our generation’s greatest domestic challenge: reforming and modernizing government to prevent an explosion of debt from crippling our nation and robbing our children of their future. We’re advancing a budget that builds upon a bipartisan consensus for principled solutions: real spending discipline and restored economic freedom; patient-centered health care reform; and pro-growth tax reform. The House Republican budget – The Path to Prosperity – offers a clear choice of two futures. We’re putting our trust in the American people to choose a brighter future for generations to come.
I will replace the player with a recorded video as soon as it becomes available.
Congressman Heath Shuler announced today that he would be retiring from Congress at the end of this term. [WaPo]
Shuler's decision means that, provided no one else jumps in the race...and I have been assured that someone will, Asheville City Councilman Cecil Bothwell is running unopposed in the Democratic primary.
Cecil Bothwell was in Franklin, NC at a previously scheduled town hall meeting in the Macon County Library tonight and I took the opportunity to ask him a few questions regarding the impending retirement of Congressman Shuler, and here is video of that conversation:
I recorded the town hall meeting and gave Cecil the opportunity to make a campaign pitch on video. I will place those videos in another blog post sometime tomorrow.
Here is the full text of the announcement by Congressman Heath Shuler of his decision to not seek reelection and retire from Congress at the conclusion of his third term in Jan 2013:
Rep. Shuler Statement on Retirement
February 2, 2012 4:34 PM
Last week I spent a lot of time at home with my family discussing the possibility of running for governor of North Carolina. This time of reflection and prayer gave us the opportunity to talk about the best course of action for us as a family moving forward. It was during this time that I reached the decision not to seek re-election to the U.S. House of Representatives in 2012.
This was not an easy decision. However, I am confident that it is the right decision. It is a decision I have weighed heavily over the past few months. I have always said family comes first, and I never intended to be a career politician. I am ready to refocus my priorities and spend more time at home with my wife Nikol and two young children.
I have experienced no greater honor than serving the people of North Carolina’s 11th Congressional District over the past five years. I am proud of the work that my office has done to give Western North Carolina a voice in Congress and make life better for the people who entrusted me with the privilege of representing them in Washington. I am also proud of the work we have accomplished with the Blue Dog Coalition to put our country on a sound fiscal path and promote civility and common-sense solutions amid the divisive, highly-partisan political climate in Washington.
Though my time in Congress will come to an end after this year, my work to move our state and country forward will not. Reducing our $15 trillion national debt and crafting bipartisan solutions to the many problems facing our nation remain my highest priorities. Leaving Congress will give me the opportunity to focus my time and energy on these initiatives without the constant demands of a re-election campaign.
I am grateful for the many close friendships I have made with my colleagues in the Blue Dog Coalition and Members of Congress on both sides of the aisle. I thank the people of Western North Carolina for placing their faith and confidence in me as their elected representative. I thank my colleagues and mentors in Washington who have helped me along the way. Most of all, I want to thank Nikol, Navy, Island, my entire family, friends, supporters, and staff, without whom my career in Congress would not have been possible. May God bless you all and continue to bless Western North Carolina.
Partial Transcript: (the retards in the US Senate have not released a full transcript)
I'm Senator Susan Collins from the Great State of Maine.
Last month, our nation produced no net new jobs. More than 14 million Americans could not find work.
I’ve asked employers what would it take to help them add more jobs. No matter the size of their business or the size of their workforce, they tell me that Washington must stop imposing crushing new regulations.
Some regulations are just plain silly. Last year, the federal government issued a warning to a company that sells packaged walnuts. Washington claimed that the walnuts were being marketed as a drug, so the government ordered the company to stop telling consumers about the health benefits of nuts.
Other regulations have far more serious consequences. The EPA has proposed a new rule on emissions from boilers that it admits would cost the private sector billions of dollars and thousands of jobs.
No wonder employers dread what is coming next out of Washington.
Over-regulation is hurting our economy; unfortunately, the problem is only.... ...growing worse. Right now, federal agencies are at work on more than 4,200 new rules, 845 of which affects small businesses, the engine of job creation. More than 100 have an economic impact of more than $100 million each.
No business owner I know questions the legitimate role of limited government in protecting our health and safety. Too often, however, our small businesses are buried under a mountain of paperwork.
Business owners are reluctant to create jobs today if they're going to need to pay more tomorrow to comply with onerous new regulations. That's why employers say that uncertainty generated by Washington is a big wet blanket on our economy.
We Republicans say, enough is enough. America needs a ‘time out’ from the regulations that discourage job creation and hurt our economy.
Republicans have many good ideas about how to tame the regulatory behemoth. We want to prevent agencies from imposing new regulations without first thoroughly considering their costs and benefits. In addition, many of us have called for a one-year moratorium on certain costly new rules.
If a rule would have an adverse impact on jobs, the economy, or America's international competitiveness, it should not go into effect.
That EPA rule on boilers is a good example of why we need a regulatory time out. If it went into effect as written, a recent study estimates that this rule, along with other pending regulations, could cause 36 pulp and paper mills across the country to close. That would put more than 20,000 Americans out of work -- 18 percent of that industry's workforce.
And that is just for starters. Once these mills close, their suppliers would also be forced to lay off workers. Estimates are that nearly 90,000 Americans would lose their jobs. Even that is not the end of the story. People and businesses would still need paper. Where do you think we would get it? We'd be strengthening the economies of other countries like China, India and Brazil, while America's economy grows weaker.
American businesses need pro-growth policies that will end the uncertainty and kick-start hiring and investment.
American workers need policies that will get them off the sidelines and back on the job.
The American economy needs a time out from excessive and costly regulations.
In sports, a ‘time out’ gives athletes a chance to catch their breaths and make better decisions.
American workers and businesses are the athletes in a global competition that we must win. We need a time out from excessive regulations so that America can get back to work.
**8.31am** There is a discussion regarding the speech and proposed legislation on my social network at Conservative Thunder.
For more information on the America Jobs Act, please see below the transcript.
Transcript: High quality blogging requires investment, not theft. Please share this article with others using the link below, do not cut & paste the article. Do not steal this material, as I am sure that you would not steal newspapers from a rack or books from the shelves at your local bookstore...or would you? http://www.westcarolinareport.com THE WHITE HOUSE Office of the Press Secretary September 8, 2011 This was originally posted on Thunder Pig. http://www.westcarolinareport.com Remarks of President Barack Obama in an Address to a Joint Session of Congress This was originally posted on Thunder Pig. http://www.westcarolinareport.com Mr. Speaker, Mr. Vice President, Members of Congress, and fellow Americans: This was originally posted on Thunder Pig. http://www.westcarolinareport.com Tonight we meet at an urgent time for our country. We continue to face an economic crisis that has left millions of our neighbors jobless, and a political crisis that has made things worse. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This past week, reporters have been asking “What will this speech mean for the President? What will it mean for Congress? How will it affect their polls, and the next election?”
But the millions of Americans who are watching right now: they don’t care about politics. They have real life concerns. Many have spent months looking for work. Others are doing their best just to scrape by – giving up nights out with the family to save on gas or make the mortgage; postponing retirement to send a kid to college.
These men and women grew up with faith in an America where hard work and responsibility paid off. They believed in a country where everyone gets a fair shake and does their fair share – where if you stepped up, did your job, and were loyal to your company, that loyalty would be rewarded with a decent salary and good benefits; maybe a raise once in awhile. If you did the right thing, you could make it in America. This was originally posted on Thunder Pig. http://www.westcarolinareport.com But for decades now, Americans have watched that compact erode. They have seen the deck too often stacked against them. And they know that Washington hasn’t always put their interests first. This was originally posted on Thunder Pig. http://www.westcarolinareport.com The people of this country work hard to meet their responsibilities. The question tonight is whether we’ll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy; whether we can restore some of the fairness and security that has defined this nation since our beginning. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Those of us here tonight can’t solve all of our nation’s woes. Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help. We can make a difference. There are steps we can take right now to improve people’s lives. This was originally posted on Thunder Pig. http://www.westcarolinareport.com I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight. And everything in this bill will be paid for. Everything. This was originally posted on Thunder Pig. http://www.westcarolinareport.com The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Everyone here knows that small businesses are where most new jobs begin. And you know that while corporate profits have come roaring back, smaller companies haven’t. So for everyone who speaks so passionately about making life easier for “job creators,” this plan is for you. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this jobs bill, and starting tomorrow, small businesses will get a tax cut if they hire new workers or raise workers’ wages. Pass this jobs bill, and all small business owners will also see their payroll taxes cut in half next year. If you have 50 employees making an average salary, that’s an $80,000 tax cut. And all businesses will be able to continue writing off the investments they make in 2012. This was originally posted on Thunder Pig. http://www.westcarolinareport.com It’s not just Democrats who have supported this kind of proposal. Fifty House Republicans have proposed the same payroll tax cut that’s in this plan. You should pass it right away. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this jobs bill, and we can put people to work rebuilding America. Everyone here knows that we have badly decaying roads and bridges all over this country. Our highways are clogged with traffic. Our skies are the most congested in the world. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This is inexcusable. Building a world-class transportation system is part of what made us an economic superpower. And now we’re going to sit back and watch China build newer airports and faster railroads? At a time when millions of unemployed construction workers could build them right here in America? This was originally posted on Thunder Pig. http://www.westcarolinareport.com There are private construction companies all across America just waiting to get to work. There’s a bridge that needs repair between Ohio and Kentucky that’s on one of the busiest trucking routes in North America. A public transit project in Houston that will help clear up one of the worst areas of traffic in the country. And there are schools throughout this country that desperately need renovating. How can we expect our kids to do their best in places that are literally falling apart? This is America. Every child deserves a great school – and we can give it to them, if we act now. This was originally posted on Thunder Pig. http://www.westcarolinareport.com The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed internet in classrooms all across this country. It will rehabilitate homes and businesses in communities hit hardest by foreclosures. It will jumpstart thousands of transportation projects across the country. And to make sure the money is properly spent and for good purposes, we’re building on reforms we’ve already put in place. No more earmarks. No more boondoggles. No more bridges to nowhere. We’re cutting the red tape that prevents some of these projects from getting started as quickly as possible. And we’ll set up an independent fund to attract private dollars and issue loans based on two criteria: how badly a construction project is needed and how much good it would do for the economy. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This idea came from a bill written by a Texas Republican and a Massachusetts Democrat. The idea for a big boost in construction is supported by America’s largest business organization and America’s largest labor organization. It’s the kind of proposal that’s been supported in the past by Democrats and Republicans alike. You should pass it right away. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this jobs bill, and thousands of teachers in every state will go back to work. These are the men and women charged with preparing our children for a world where the competition has never been tougher. But while they’re adding teachers in places like South Korea, we’re laying them off in droves. It’s unfair to our kids. It undermines their future and ours. And it has to stop. Pass this jobs bill, and put our teachers back in the classroom where they belong. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this jobs bill, and companies will get extra tax credits if they hire America’s veterans. We ask these men and women to leave their careers, leave their families, and risk their lives to fight for our country. The last thing they should have to do is fight for a job when they come home. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this bill, and hundreds of thousands of disadvantaged young people will have the hope and dignity of a summer job next year. And their parents, low-income Americans who desperately want to work, will have more ladders out of poverty. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this jobs bill, and companies will get a $4,000 tax credit if they hire anyone who has spent more than six months looking for a job. We have to do more to help the long-term unemployed in their search for work. This jobs plan builds on a program in Georgia that several Republican leaders have highlighted, where people who collect unemployment insurance participate in temporary work as a way to build their skills while they look for a permanent job. The plan alsoextends unemployment insurance for another year. If the millions of unemployed Americans stopped getting this insurance, and stopped using that money for basic necessities, it would be a devastating blow to this economy. Democrats and Republicans in this Chamber have supported unemployment insurance plenty of times in the past. At this time of prolonged hardship, you should pass it again – right away. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Pass this jobs bill, and the typical working family will get a fifteen hundred dollar tax cut next year. Fifteen hundred dollars that would have been taken out of your paycheck will go right into your pocket. This expands on the tax cut that Democrats and Republicans already passed for this year. If we allow that tax cut to expire – if we refuse to act – middle-class families will get hit with a tax increase at the worst possible time. We cannot let that happen. I know some of you have sworn oaths to never raise any taxes on anyone for as long as you live. Now is not the time to carve out an exception and raise middle-class taxes, which is why you should pass this bill right away. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This is the American Jobs Act. It will lead to new jobs for construction workers, teachers, veterans, first responders, young people and the long-term unemployed. It will provide tax credits to companies that hire new workers, tax relief for small business owners, and tax cuts for the middle-class. And here’s the other thing I want the American people to know: the American Jobs Act will not add to the deficit. It will be paid for. And here’s how: This was originally posted on Thunder Pig. http://www.westcarolinareport.com The agreement we passed in July will cut government spending by about $1 trillion over the next ten years. It also charges this Congress to come up with an additional $1.5 trillion in savings by Christmas. Tonight, I’m asking you to increase that amount so that it covers the full cost of the American Jobs Act. And a week from Monday, I’ll be releasing a more ambitious deficit plan – a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This approach is basically the one I’ve been advocating for months. In addition to the trillion dollars of spending cuts I’ve already signed into law, it’s a balanced plan that would reduce the deficit by making additional spending cuts; by making modest adjustments to health care programs like Medicare and Medicaid; and by reforming our tax code in a way that asks the wealthiest Americans and biggest corporations to pay their fair share. What’s more, the spending cuts wouldn’t happen so abruptly that they’d be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right away. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Now, I realize there are some in my party who don’t think we should make any changes at all to Medicare and Medicaid, and I understand their concerns. But here’s the truth. Millions of Americans rely on Medicare in their retirement. And millions more will do so in the future. They pay for this benefit during their working years. They earn it. But with an aging population and rising health care costs, we are spending too fast to sustain the program. And if we don’t gradually reform the system while protecting current beneficiaries, it won’t be there when future retirees need it. We have to reform Medicare to strengthen it. This was originally posted on Thunder Pig. http://www.westcarolinareport.com I’m also well aware that there are many Republicans who don’t believe we should raise taxes on those who are most fortunate and can best afford it. But here is what every American knows. While most people in this country struggle to make ends meet, a few of the most affluent citizens and corporations enjoy tax breaks and loopholes that nobody else gets. Right now, Warren Buffet pays a lower tax rate than his secretary – an outrage he has asked us to fix. We need a tax code where everyone gets a fair shake, and everybody pays their fair share. And I believe the vast majority of wealthy Americans and CEOs arewilling to do just that, if it helps the economy grow and gets our fiscal house in order. This was originally posted on Thunder Pig. http://www.westcarolinareport.com I’ll also offer ideas to reform a corporate tax code that stands as a monument to special interest influence in Washington. By eliminating pages of loopholes and deductions, we can lower one of the highest corporate tax rates in the world. Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America. This was originally posted on Thunder Pig. http://www.westcarolinareport.com So we can reduce this deficit, pay down our debt, and pay for this jobs plan in the process. But in order to do this, we have to decide what our priorities are. We have to ask ourselves, “What’s the best way to grow the economy and create jobs?” This was originally posted on Thunder Pig. http://www.westcarolinareport.com Should we keep tax loopholes for oil companies? Or should we use that money to give small business owners a tax credit when they hire new workers? Because we can’t afford to do both. Should we keep tax breaks for millionaires and billionaires? Or should we put teachers back to work so our kids can graduate ready for college and good jobs? Right now, we can’t afford to do both. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This isn’t political grandstanding. This isn’t class warfare. This is simple math. These are real choices that we have to make. And I’m pretty sure I know what most Americans would choose. It’s not even close. And it’s time for us to do what’s right for our future. This was originally posted on Thunder Pig. http://www.westcarolinareport.com The American Jobs Act answers the urgent need to create jobs right away. But we can’t stop there. As I’ve argued since I ran for this office, we have to look beyond the immediate crisis and start building an economy that lasts into the future – an economy that creates good, middle-class jobs that pay well and offer security. We now live in a world where technology has made it possible for companies to take their business anywhere. If we want them to start here and stay here and hire here, we have to be able to out-build, out-educate, and out-innovate every other country on Earth. This was originally posted on Thunder Pig. http://www.westcarolinareport.com This task, of making America more competitive for the long haul, is a job for all of us. For government and for private companies. For states and for local communities – and for every American citizen. All of us will have to up our game. All of us will have to change the way we do business. This was originally posted on Thunder Pig. http://www.westcarolinareport.com My administration can and will take some steps to improve our competitiveness on our own. For example, if you’re a small business owner who has a contract with the federal government, we’re going to make sure you get paid a lot faster than you do now. We’re also planning to cut away the red tape that prevents too many rapidly-growing start-up companies from raising capital and going public. And to help responsible homeowners, we’re going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4% -- a step that can put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Other steps will require Congressional action. Today you passed reform that will speed up the outdated patent process, so that entrepreneurs can turn a new idea into a new business as quickly as possible. That’s the kind of action we need. Now it’s time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama, Colombia, and South Korea – while also helping the workers whose jobs have been affected by global competition. If Americans can buy Kias and Hyundais, I want to see folks in South Korea driving Fords and Chevys and Chryslers. I want to see more products sold around the world stamped with three proud words: “Made in America.” This was originally posted on Thunder Pig. http://www.westcarolinareport.com And on all of our efforts to strengthen competitiveness, we need to look for ways to work side-by-side with America’s businesses. That’s why I’ve brought together a Jobs Council of leaders from different industries who are developing a wide range of new ideas to help companies grow and create jobs.
Already, we’ve mobilized business leaders to train 10,000 American engineers a year, by providing company internships and training. Other businesses are covering tuition for workers who learn new skills at community colleges. And we’re going to make sure the next generation of manufacturing takes root not in China or Europe, but right here, in the United States of America. If we provide the right incentives and support – and if we make sure our trading partners play by the rules – we can be the ones to build everything from fuel-efficient cars to advanced biofuels to semiconductors that are sold all over the world. That’s how America can be number one again. That’s how America will be number one again.
Now, I realize that some of you have a different theory on how to grow the economy. Some of you sincerely believe that the only solution to our economic challenges is to simply cut most government spending and eliminate most government regulations. Well, I agree that we can’t afford wasteful spending, and I will continue to work with Congress to get rid of it. And I agree that there are some rules and regulations that put an unnecessary burden on businesses at a time when they can least afford it. That’s why I ordered a review of all government regulations. So far, we’ve identified over 500 reforms, which will save billions of dollars over the next few years. We should have no more regulation than the health, safety, and security of the American people require. Every rule should meet that common sense test.
But what we can’t do – what I won’t do – is let this economic crisis be used as an excuse to wipe out the basic protections that Americans have counted on for decades. I reject the idea that we need to ask people to choose between their jobs and their safety. I reject the argument that says for the economy to grow, we have to roll back protections that ban hidden fees by credit card companies, or rules that keep our kids from being exposed to mercury, or laws that prevent the health insurance industry from shortchanging patients. I reject the idea that we have to strip away collective bargaining rights to compete in a global economy. We shouldn’t be in a race to the bottom, where we try to offer the cheapest labor and the worst pollution standards. America should be in a race to the top. And I believe that’s a race we can win.
In fact, this larger notion that the only thing we can do to restore prosperity is just dismantle government, refund everyone’s money, let everyone write their own rules, and tell everyone they’re on their own – that’s not who we are. That’s not the story of America. This was originally posted on Thunder Pig. http://www.westcarolinareport.com Yes, we are rugged individualists. Yes, we are strong and self-reliant. And it has been the drive and initiative of our workers and entrepreneurs that has made this economy the engine and envy of the world.
But there has always been another thread running throughout our history – a belief that we are all connected; and that there are some things we can only do together, as a nation.
We all remember Abraham Lincoln as the leader who saved our Union. But in the middle of a Civil War, he was also a leader who looked to the future – a Republican president who mobilized government to build the transcontinental railroad; launch the National Academy of Sciences; and set up the first land grant colleges. And leaders of both parties have followed the example he set.
Ask yourselves – where would we be right now if the people who sat here before us decided not to build our highways and our bridges; our dams and our airports? What would this country be like if we had chosen not to spend money on public high schools, or research universities, or community colleges? Millions of returning heroes, including my grandfather, had the opportunity to go to school because of the GI Bill. Where would we be if they hadn’t had that chance?
How many jobs would it have cost us if past Congresses decided not to support the basic research that led to the Internet and the computer chip? What kind of country would this be if this Chamber had voted down Social Security or Medicare just because it violated some rigid idea about what government could or could not do? How many Americans would have suffered as a result? This was originally posted on Thunder Pig. http://www.westcarolinareport.com No single individual built America on their own. We built it together. We have been, and always will be, one nation, under God, indivisible, with liberty and justice for all; a nation with responsibilities to ourselves and with responsibilities to one another. Members of Congress, it is time for us to meet our responsibilities.
Every proposal I’ve laid out tonight is the kind that’s been supported by Democrats and Republicans in the past. Every proposal I’ve laid out tonight will be paid for. And every proposal is designed to meet the urgent needs of our people and our communities.
I know there’s been a lot of skepticism about whether the politics of the moment will allow us to pass this jobs plan – or any jobs plan. Already, we’re seeing the same old press releases and tweets flying back and forth. Already, the media has proclaimed that it’s impossible to bridge our differences. And maybe some of you have decided that those differences are so great that we can only resolve them at the ballot box. This was originally posted on Thunder Pig. http://www.westcarolinareport.com But know this: the next election is fourteen months away. And the people who sent us here – the people who hired us to work for them – they don’t have the luxury of waiting fourteen months. Some of them are living week to week; paycheck to paycheck; even day to day. They need help, and they need it now. This was originally posted on Thunder Pig. http://www.westcarolinareport.com I don’t pretend that this plan will solve all our problems. It shouldn’t be, nor will it be, the last plan of action we propose. What’s guided us from the start of this crisis hasn’t been the search for a silver bullet. It’s been a commitment to stay at it – to be persistent – to keep trying every new idea that works, and listen to every good proposal, no matter which party comes up with it.
Regardless of the arguments we’ve had in the past, regardless of the arguments we’ll have in the future, this plan is the right thing to do right now. You should pass it. And I intend to take that message to every corner of this country. I also ask every American who agrees to lift your voice and tell the people who are gathered here tonight that you want action now. Tell Washington that doing nothing is not an option. Remind us that if we act as one nation, and one people, we have it within our power to meet this challenge.
President Kennedy once said, “Our problems are man-made – therefore they can be solved by man. And man can be as big as he wants.” This was originally posted on Thunder Pig. http://www.westcarolinareport.com These are difficult years for our country. But we are Americans. We are tougher than the times that we live in, and we are bigger than our politics have been. So let’s meet the moment. Let’s get to work, and show the world once again why the United States of America remains the greatest nation on Earth. Thank you, God bless you, and may God bless the United States of America.
###
Here is a quote from the White House on how this monstrosity is supposed to work:
This was originally posted on Thunder Pig. http://www.westcarolinareport.com
First, it provides a tax cut for small businesses, not big corporations, to help them hire and expand now, and provides an additional tax cut to any business that hires or increases wages.
Second, it puts more people back to work, including up to 280,000 teachers laid off by state-budget cuts, first responders and veterans coming back from Iraq and Afghanistan, and construction workers repairing crumbling bridges, roads and more than 35,000 public schools, with projects chosen by need and impact, not earmarks and politics. And, it expands job opportunities for hundreds of thousands of low-income youth and adults through a new Pathways Back to Work Fund that supports summer and year round jobs for youth; innovative new job training programs to connect low-income workers to jobs quickly; and successful programs to encourage employers to bring on disadvantaged workers.
Third, it helps out-of-work Americans by extending unemployment benefits to help them support their families while looking for work and reforming the system with training programs that build real skills, connect to real jobs and help the long-term unemployed. It bans employers from discriminating against the unemployed when hiring, and provides a new tax credit to employers hiring workers who have been out of a job for over 6 months.
Fourth, it puts more money in the pockets of working and middle class Americans by cutting in half the payroll tax that comes out of every worker's paycheck, saving families an average of $1,500 a year’ and taking executive action to remove the barriers that exist in the current federal refinancing program (HARP) to help more Americans refinance their mortgages at historically low rates, save money and stay in their homes.
Last, the plan won’t add a dime to the deficit and is fully paid for through a balanced deficit reduction plan that includes closing corporate tax loopholes and asking the wealthiest Americans to pay their fair share.
This was originally posted on Thunder Pig. http://www.westcarolinareport.com A full copy of the proposal has not yet been released (the Devil is always in the details) and here is a summary of the proposed legislation as provided by the White House:
The White House
Office of the Press Secretary
For Immediate Release
September 08, 2011
Fact Sheet: The American Jobs Act
THE AMERICAN JOBS ACT
1. Tax Cuts to Help America’s Small Businesses Hire and Grow
Cutting the payroll tax in half for 98 percent of businesses: The President’s plan will cut in half the taxes paid by businesses on their first $5 million in payroll, targeting the benefit to the 98 percent of firms that have payroll below this threshold.
A complete payroll tax holiday for added workers or increased wages: The President’s plan will completely eliminate payroll taxes for firms that increase their payroll by adding new workers or increasing the wages of their current worker (the benefit is capped at the first $50 million in payroll increases).
Extending 100% expensing into 2012: This continues an effective incentive for new investment.
Reforms and regulatory reductions to help entrepreneurs and small businesses access capital. This was originally posted on Thunder Pig. http://www.westcarolinareport.com
2. Putting Workers Back on the Job While Rebuilding and Modernizing America
A “Returning Heroes” hiring tax credit for veterans: This provides tax credits from $5,600 to $9,600 to encourage the hiring of unemployed veterans.
Preventing up to 280,000 teacher layoffs,while keeping cops and firefighters on the job.
Modernizing at least 35,000 public schools across the country,supporting new science labs, Internet-ready classrooms and renovations at schools across the country, in rural and urban areas.
Immediate investments in infrastructure and a bipartisan National Infrastructure Bank, modernizing our roads, rail, airports and waterways while putting hundreds of thousands of workers back on the job.
A New “Project Rebuild”, which will put people to work rehabilitating homes, businesses and communities, leveraging private capital and scaling land banks and other public-private collaborations.
Expanding access to high-speed wireless as part of a plan for freeing up the nation’s spectrum.
3. Pathways Back to Work for Americans Looking for Jobs.
The most innovative reform to the unemployment insurance program in 40 years: As part of an extension of unemployment insurance to prevent 5 million Americans looking for work from losing their benefits, the President’s plan includes innovative work-based reforms to prevent layoffs and give states greater flexibility to use UI funds to best support job-seekers, including:
Work-Sharing: UI for workers whose employers choose work-sharing over layoffs.
A new “Bridge to Work” program: The plan builds on and improves innovative state programs where those displacedtake temporary, voluntary work or pursue on-the-job training.
Innovative entrepreneurship and wage insurance programs: States will also be empowered to implement wage insurance to help reemploy older workers and programs that make it easier for unemployed workers to start their own businesses.
A $4,000 tax credit to employers for hiring long-term unemployed workers.
Prohibiting employers from discriminating against unemployed workers when hiring.
Expanding job opportunities for low-income youth and adults through a fund for successful approaches for subsidized employment, innovative training programs and summer/year-round jobs for youth.This was originally posted on Thunder Pig. http://www.westcarolinareport.com
4. Tax Relief for Every American Worker and Family
Cutting payroll taxes in half for 160 million workers next year: The President’s plan will expand the payroll tax cut passed last year to cut workers payroll taxes in half in 2012 – providing a $1,500 tax cut to the typical American family, without negatively impacting the Social Security Trust Fund.
Allowing more Americans to refinance their mortgages at today’s near 4 percent interest rates, which can put more than $2,000 a year in a family’s pocket.This was originally posted on Thunder Pig. http://www.westcarolinareport.com
5. Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan.To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how we can do that while achieving the additional deficit reduction necessary to meet the President’s broader goal of stabilizing our debt as a share of the economy.
AMERICAN JOBS ACT OVERVIEW
The American people understand that the economic crisis and the deep recession weren’t created overnight and won’t be solved overnight. The economic security of the middle class has been under attack for decades. That’s why President Obama believes we need to do more than just recover from this economic crisis – we need to rebuild the economy the American way, based on balance, fairness, and the same set of rules for everyone from Wall Street to Main Street. We can work together to create the jobs of the future by helping small business entrepreneurs, by investing in education, and by making things the world buys. The President understands that to restore an American economy that’s built to last we cannot afford to outsource American jobs and encourage reckless financial deals that put middle class security at risk.
To create jobs, the President unveiled the American Jobs Act – nearly all of which is made up of ideas that have been supported by both Democrats and Republicans, and that Congress should pass right away to get the economy moving now. The purpose of the American Jobs Act is simple: put more people back to work and put more money in the pockets of working Americans. And it would do so without adding a dime to the deficit.
Tax Cuts to Help America’s Small Businesses Hire and Grow
New Tax Cuts to Businesses to Support Hiring and Investment:The President is proposing three tax cuts to provide immediate incentives to hire and invest:
Cutting the Payroll Tax Cut in Half for the First $5 Million in Wages:This provision would cut the payroll tax in half to 3.1% for employers on the first $5 million in wages, providing broad tax relief to all businesses but targeting it to the 98 percent of firms with wages below this level.
Temporarily Eliminating Employer Payroll Taxes on Wages for New Workers or Raises for Existing Workers:The President is proposing a full holiday on the 6.2% payroll tax firms pay for any growth in their payroll up to $50 million above the prior year, whether driven by new hires, increased wages or both. This is the kind of job creation measure that CBO has called the most effective of all tax cuts in supporting employment.
Extending 100% Expensing into 2012:The President is proposing to extend 100 percent expensing, the largest temporary investment incentive in history, allowing all firms – large and small – to take an immediate deduction on investments in new plants and equipment.
Helping Entrepreneurs and Small Businesses Access Capital and Grow: The President’s plan includes administrative, regulatory and legislative measures – including those developed and recommended by the President’s Jobs Council – to help small firms start and expand. This includes changing the way the government does business with small firms. The Administration will soon announce a plan to accelerate government payments to small contractors to help put money in their hands faster. The President is also charging his CIO and CTO to, within 90 days, stand up a one-stop, online portal for small businesses to easily access government services. As part of the President’s Startup America initiative, the Administration will work with the SEC to conduct a comprehensive review of securities regulations from the perspective of these small companies to reduce the regulatory burdens on small business capital formation in ways that are consistent with investor protection, including expanding “crowdfunding” opportunities and increasing mini-offerings. Finally, the President’s plan calls for Congress to pass comprehensive patent reform, increase guarantees for bonds to help small businesses compete for infrastructure projects and remove burdensome withholding requirements that keep capital out of the hands of job creators.
Putting Workers Back on the Job While Rebuilding and Modernizing America
Tax Credits and Career Readiness Efforts to Support Veterans’ Hiring:The President is proposing a Returning Heroes Tax Credit of up to $5,600 for hiring unemployed veterans who have been looking for a job for more than six months, and a Wounded Warriors Tax Credit of up to $9,600 for hiring unemployed workers with service-connected disabilities who have been looking for a job for more than six months, while creating a new task force to maximize career readiness of servicemembers.
Preventing Layoffs of Teachers, Cops and Firefighters:The President is proposing to invest $35 billion to prevent layoffs of up to 280,000 teachers, while supporting the hiring of tens of thousands more and keeping cops and firefighters on the job. These funds would help states and localities avoid and reverse layoffs now, requiring that funds be drawn down quickly. Under the President’s proposal, $30 billion be directed towards educators and $5 billion would support the hiring and retention of public safety and first responder personnel.
Modernizing Over 35,000 Schools – From Science Labs and Internet-Ready Classrooms to Renovated Facilities:The President is proposing a $25 billion investment in school infrastructure that will modernize at least 35,000 public schools – investments that will create jobs, while improving classrooms and upgrading our schools to meet 21st century needs. This includes a priority for rural schools and dedicated funding for Bureau of Indian Education funded schools. Funds could be used for a range of emergency repair and renovation projects, greening and energy efficiency upgrades, asbestos abatement and removal, and modernization efforts to build new science and computer labs and to upgrade technology in our schools. The President is also proposing a $5 billion investment in modernizing community colleges (including tribal colleges), bolstering their infrastructure in this time of need while ensuring their ability to serve future generations of students and communities.
Making an Immediate Investment in Our Roads, Rails and Airports: The President’s plan includes $50 billion in immediate investments for highways, transit, rail and aviation, helping to modernize an infrastructure that now receives a grade of “D” from the American Society of Civil Engineers and putting hundreds of thousands of construction workers back on the job. The President’s plan includes investments to improve our airports, support NextGen Air Traffic Modernization efforts, and resources for the TIGER and TIFIA programs, which target competitive dollars to innovative multi-modal infrastructure programs. It will also take special steps to enhance infrastructure-related job training opportunities for individuals from underrepresented groups and ensure that small businesses can compete for infrastructure contracts.The President will work administratively to speed infrastructure investment through a recently issued Presidential Memorandum developed with his Jobs Council directingdepartments and agencies to identify high impact, job-creating infrastructure projects that can be expedited in a transparent manner through outstanding review and permitting processes. The call for greater infrastructure investment has been joined by leaders from AFL-CIO President Richard Trumka to U.S. Chamber of Commerce President Thomas Donohue.
Establishing a National Infrastructure Bank:The President is calling for Congress to pass a National Infrastructure Bank capitalized with $10 billion, in order to leverage private and public capital and to invest in a broad range of infrastructure projects of nationaland regional significance, without earmarks or traditional political influence. The Bank would be based on the model Senators Kerry and Hutchison have championed while building on legislation by Senators Rockefeller and Lautenberg and the work of long-time infrastructure bank champions like Rosa DeLauro and the input of the President’s Jobs Council.
Project Rebuild: Putting People Back to Work Rehabilitating Homes, Businesses and Communities. The President is proposing to invest $15 billion in a national effort to put construction workers on the job rehabilitating and refurbishing hundreds of thousands of vacant and foreclosed homes and businesses. Building on proven approaches to stabilizing neighborhoods with high concentrations of foreclosures, Project Rebuild will bring in expertise and capital from the private sector, focus on commercial and residential property improvements, and expand innovative property solutions like land banks. This approach will not only create construction jobs but will help reduce blight and crime and stabilize housing prices in areas hardest hit by the housing crisis.
Expanding Access to High-Speed Wireless in a Fiscally Responsible Way: The President is calling for a deficit reducing plan to deploy high-speed wireless services to at least 98 percent of Americans, including those in more remote rural communities, while freeing up spectrum through incentive auctions, spurring innovation, and creating a nationwide, interoperable wireless network for public safety. This was originally posted on Thunder Pig. http://www.westcarolinareport.com
Pathways Back to Work for Americans Looking for Jobs
Reform Our Unemployment Insurance System to Provide Greater Flexibility, While Ensuring 6 Million People Do Not Lose Benefits: Drawing on the best ideas of both parties and the most innovative states, the President is proposing the most sweeping reforms to the unemployment insurance (UI) system in 40 years help those without jobs transition to the workplace. Alongside these reforms, the President is reiterating his call to extend unemployment insurance, preventing 6 million people looking for work from losing their benefits and extending what the independent Congressional Budget Office has determined is the highest “bang for the buck” option to increase economic activity.
Reemployment Assistance: States will be required to design more rigorous reemployment services for the long-term unemployed and to conduct assessments to review the longest-term claimants of UI to assess their eligibility and help them develop a work-search plan. These reforms are proven to speed up UI beneficiaries’ return to work.
Work-sharing:The President will expand “work-sharing” to encourage arrangements using UI that keep employees on the job at reduced hours, rather than laying them off.
State Flexibility for Bold Reforms to Put the Long-Term Unemployed Back To Work:The President is proposing to provide additional funds to allow states to introduce new programs aimed at long-term unemployed workers, including:
“Bridge to Work” Programs:States will be able to put in place reforms that build off what works in programs like Georgia Works or Opportunity North Carolina, while instituting important fixes and reforms that ensure minimum wage and fair labor protections are being enforced. These approaches permits long-term unemployed workers to continue receiving UI while they take temporary, voluntary work or pursue work-based training. The President’s plan requires compliance with applicable minimum wage and other worker rights laws.
Wage Insurance: States will be able to use UI to encourage older, long-term unemployed Americans to return to work in new industries or occupations.
Startup Assistance: States will have flexibility to help long-term unemployed workers create their own jobs by starting their own small businesses.
Other Reemployment Reforms: States will be able to seek waivers from the Secretary of Labor to implement other innovative reforms to connect the long-term unemployed to work opportunities.
Tax Credits for Hiring the Long-Term Unemployed:The President is proposing a tax credit of up to $4,000 for hiring workers who have been looking for a job for over six months.
Investing in Low-Income Youth and Adults: The President is proposing a new Pathways Back to Work Fund to provide hundreds of thousands of low-income youth and adults with opportunities to work and to achieve needed training in growth industries. The Initiative will do three things: i) support summer and year-round jobs for youth, building off of successful programs that supported over 370,000 such jobs in 2009 and 2010; ii) support subsidized employment opportunities for low-income individuals who are unemployed, building off the successful TANF Emergency Contingency Fund wage subsidy program that supported 260,000 jobs in 2009 and 2010; and iii) support promising and innovative local work-based job and training initiatives to place low-income adults and youths in jobs quickly.
Prohibiting Employers from Discriminating Against Unemployed Workers: The President’s plan calls for legislation that would make it unlawful to refuse to hire applicants solely because they are unemployed or to include in a job posting a provision that unemployed persons will not be considered.
More Money in the Pockets of Every American Worker and Family
Cutting Payroll Taxes in Half for 160 Million Workers Next Year:The President’s plan will expand the payroll tax cut passed last December by cutting workers payroll taxes in half next year. This provision will provide a tax cut of $1,500 to the typical family earning $50,000 a year. As with the payroll tax cut passed in December 2010, the American Jobs Act will specify that Social Security will still receive every dollar it would have gotten otherwise, through a transfer from the General Fund into the Social Security Trust Fund.
Helping More Americans Refinance Mortgages at Today’s Historically Low Interest Rates:The President has instructed his economic team to work with Fannie Mae and Freddie Mac, their regulator the FHFA, major lenders and industry leaders to remove the barriers that exist in the current refinancing program (HARP) to help more borrowers benefit from today’s historically low interest rates. This has the potential to not only help these borrowers, but their communities and the American taxpayer, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac. This was originally posted on Thunder Pig. http://www.westcarolinareport.com
Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan.
To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how we can do that while achieving the additional deficit reduction necessary to meet the President’s broader goal of stabilizing our debt as a share of the economy.
This was originally posted on Thunder Pig. http://www.westcarolinareport.com
$, bn
Tax Cuts to Help America’s Small Businesses Hire and Grow
70
Cut employer payroll taxes in half & bonus payroll cut for new jobs/wages
65
Extend 100% expensing in 2012
5
Putting Workers Back on the Job While Rebuilding and Modernizing America
140
Teacher rehiring and first responders
35
Modernizing schoolsThis was originally posted on Thunder Pig. http://www.westcarolinareport.com
30
Immediate surface transportation
50
Infrastructure bank
10
Rehabilitation/repurposing of vacant property (neighborhood stabilization)
15
National wireless initiative
0*
Veterans hiring initiativeThis was originally posted on Thunder Pig. http://www.westcarolinareport.com
n.a.
Pathways Back to Work for Americans Looking for Jobs
62
UI Reform and Extension
49
Jobs tax credit for long term unemployed
8
Pathways back to work fund
5
More Money in the Pockets of Every American Worker and Family
175
Cutting employee payroll taxes in half in 2012
175
TOTALThis was originally posted on Thunder Pig. http://www.westcarolinareport.com
447
* Proposal has a gross cost of $10bn, but a net deficit reducing impact of $18bn because of spectrum auction proceeds.
This was originally posted on Thunder Pig. http://www.westcarolinareport.com
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Businesses can underwrite this coverage by day sponsorships, surplus equipment donations, etc. Inquire at editor@maconmedia.com for more information.
Donations accepted for the purpose of supporting this blog and activities related to improving it's operations and my coverage of local festivals and local government meetings.
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