The Pendleton Panther

House Passes Jobs Bill

Posted on: December 17, 2009

Today, the U.S. House of Representatives passed the $154 billion Jobs Bill.  The bill, which has been called a “second stimulus”, has been rather controversial, however, as the vote resulted in a narrow 217 to 212 victory.  The Senate is most likely waiting until next Spring to address the issue, but the bill is halfway to providing funds for training in rapidly growing and new industries.  To combat the rising unemployment rate as of late, the bill is hoped to result in the creation of many skilled–and in demand–workers.  The bill could also help fund firefighter and police forces.  Many parties have opposed to the bill, however, and wonder what good the spending will actually do.  David Wyss, the chief economist at Standard & Poor’s fears that the Jobs Bill may be a repeat of the original $780 billion stimulus bill passed earlier this year, claiming that “We didn’t get a lot of bang for the buck out of that package.”  For now, though, we must wait for the Senate to take up the bill in Spring.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: