Obama to Sign Bill With Slew of Tax Breaks

A package of tax breaks and highway spending cleared the U.S. Congress Wednesday, the first of what Democrats hope will be several efforts to bring down the 9.7 percent unemployment rate.

The Senate passed the measure by a vote of 68 to 29 and sent it to President Barack Obama, who is expected to sign it into law. Eleven Republicans joined Democrats in support of the measure.
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The bill sent to Obama includes a $13 billion payroll tax break for businesses that hire unemployed workers. Some economists and liberal lawmakers question that approach, saying it will only go to businesses that planned to expand anyway.

The bill also subsidizes state and local construction bonds and allocates $19.5 billion to shore up a highway-construction program and extend it through the end of the year.

The bill's costs, other than the highway fund, are offset by a crackdown on offshore tax shelters.

The bill won the backing of 11 Republicans, though many had opposed it in previous procedural votes. Read more at MSNBC