“As we continue to address the monumental economic challenges facing our great nation, we must be vigilant to do so in a fiscally responsible manner. We can pay for these provisions by redirecting some of the hundreds of billions of dollars included in the American Recovery and Reinvestment Act,” said Ms. Snowe, in a press release.
“Additionally, we must enact legislation that would provide for a complete exclusion on capital gains attributable to small business stock and help drive additional investment in our nation’s small employers. We must also extend the research and development tax credit, which is crucial for manufacturers which is actually one sector of the economy that is creating jobs after a prolonged period of weakness while accelerating the depreciation for restaurants and leasehold improvements,” she said.
Ms. Snowe’s comments come as Reuters is reporting the bill may fail in the Senate tomorrow as other Republicans pull support due to partisan issues.
“Leader Reid’s surprising decision to abandon a bipartisan job creation bill is an ominous sign and contradicts the president’s call for both parties to come together,” said U.S. Sen. Orrin Hatch, reported by Reuters. “This is not how you legislate in the United States Senate and demonstrate a tremendous arrogance of power.”
“We still hope that Republicans will join us,” said U.S. Sen. Harry Reid.
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