Obama's Jobs Bill

President Obama revealed Monday that he's sending his $447 billion jobs bill to Congress, asking lawmakers to pass it "immediately." The president says the proposal would boost the economy and argued there's no reason for Congress not to pass it. "This is a bill that will put people back to work all across the country," Obama said. "This is the bill that Congress needs to pass. ... No games, no politics, no delays." While the bill contains a number of proposals that have received bipartisan support in the past, the overall package, while smaller, bears many similarities to the 2009 stimulus bill that Republicans dislike. GOP leaders have said they're willing to work with the president. The bill requires a blend of state aid, tax breaks and infrastructure spending, as well as unemployment assistance. The main feature of the plan is lower Social Security payroll taxes for individuals and businesses. It also includes new spending to hire teachers and rebuild schools, among other things. Several Republican lawmakers and governors are disinterested in taking the federal money, especially if it “locks in costs they will have to account for once the aid runs out.” The bill would make the second, sizable mixture of federal money to states in less than three years, coming up just as they are running out of the last of the billions of dollars they received under the 2009 stimulus act.

Source: CNN and FOX News