More Economic Aid (Stimulus): About Time
September 3, 2010 Leave a comment
Finally, the Administration has accepted that the initial stimulus package was not enough to bring employment back up. This will benefit Florida and Coral Gables, especially, because the state’s unemployment rate is a good 20% higher than the national average.
Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.
Obama spoke in the Rose Garden after the August jobs report came out better than expected, showing the private sector adding 67,000 new jobs last month and revising upward the numbers from June and July. But unemployment ticked upward to 9.6 percent as more people entered the job market, and the president said it wasn’t good enough.
Obama’s package could include a number of provisions that have languished in Congress for much of the year, including infrastructure bonds for municipalities and extensions for a series of tax breaks for businesses and individuals that expired at the end of 2009. Democratic leaders are considering making one of the tax breaks permanent, for businesses that invest in research and development.via