Senate takes up small business jobs bill

The Senate is moving forward with the Small Business Jobs and Tax Relief Act (S. 2237), which would provide an income tax credit of 10% of wages for small employers who create jobs or increase wages in 2012. The credit would be capped at $500,000 per employer.

The bill also extends 100 percent bonus depreciation through 2012 for all employers.

In a procedural move last night, the Senate voted 80-14 to limit debate, which clears the bill to eventually move forward for a vote. There are still amendments to the bill that need to be worked out, but 80 votes to close debate indicates that there’s some rare bipartisan support to move forward.

About jgrahamcpa

CPA. Record label owner (Two Sheds Music). Music/sports junkie. Lebanese food enthusiast. Unhinged Braves / Crimson Tide fan.
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