“The legislation Republicans blocked was a common-sense proposal that provided small businesses with two tax cuts designed to create jobs. Under our proposal, small businesses would have received a 10 percent tax cut on the amount by which they increase their payrolls this calendar year. And to help them expand, small businesses would have been allowed to write off 100 percent of the cost of any major equipment or software they purchase.

“Unfortunately, Republicans played their usual games of obstruction and opposition. There was simply no reason to oppose this bill on the merits, so Republicans manufactured reasons to kill it out of thin air. Republicans claimed they wanted amendment votes, but refused to take ‘yes’ for an answer when I offered them votes on those very amendments.

“Senator McConnell made it clear that his ‘single most important’ goal is defeating President Obama. It’s sad that the middle class has to suffer for Republicans to achieve their political aims.”

Washington, D.C. – Nevada Senator Harry Reid spoke on the Senate floor today regarding Senator Orrin Hatch’s amendment to the Small Business Jobs and Tax Relief Act, which would raise taxes on 25 million American families. Below are his remarks as prepared for delivery:

Right now the Senate is considering a small business tax cut – proposed by President Obama – that will create 1 million jobs.

This legislation would give tax credits to businesses that grow and hire.

Yet Republicans are looking for any excuse to vote down the proposal for two reasons:

• It has the support of President Obama and Democrats in Congress.
• And it would strengthen the economy, which would help the President.

We know Republicans won’t do anything that helps President Obama – even if it’s good for the economy – because their number one goal is to defeat the President. Mitch McConnell has said so.

So Republicans are hiding behind a procedural trick: filibustering with unrelated amendments.

If there is any doubt about Republicans’ motivation – to kill this legislation – just look at the amendment proposed today by Senator Hatch of Utah.

The first thing Senator Hatch’s amendment would do is eliminate all the tax cuts in the bill.

The amendment would literally eliminate every provision in the bill designed to create jobs.

Senator Hatch’s amendment eliminates the 10% credit for employers that hire additional workers or increase their payroll – a provision that would create half a million jobs.

And it strikes deductions for businesses that invest in machinery and equipment – which would create another half a million jobs.

But the Republican amendment doesn’t stop there.

It goes on to increase taxes for 25 million American families.

Senator Hatch’s amendment would extend tax breaks for the top two percent of Americans. But it fails to extend a number of tax cuts that help middle-class families get by in a tough economy.

Senator Hatch’s amendment will increase taxes by $1,100 for 11 million families trying to pay for college.

Senator Hatch’s amendment would make it harder for 6 million large families to put food on the table. It would increase taxes by $800 for families with at least three children.

And Senator Hatch’s amendment fails to extend the full Child Tax Credit for 12 million families, increasing their taxes by $500.

No one is fooled by this amendment.

We see it for what it is: more Republican obstruction that comes with the added bonus of sticking it to the middle-class.

If that wasn’t enough political theater for one day, my Republican colleagues also claim they’re anxious to vote on President Obama’s plan to cut taxes for 98 percent of American families.

Once again, no one is fooled.

Republicans know very well the Senate will vote on the President’s proposal to give middle-class families certainty they won’t face a tax increase.

We’ll vote on it this work period, as I have already said. They say they want to vote sooner.

So let’s lock in an agreement to vote on:

• The President’s plan to give 98 percent of Americans certainty their taxes won’t go up,
• And the Republican plan to raise taxes on 25 million families.

Democrats are ready to have these votes right away at a simple majority threshold.

Then we can get back to the task at hand – cutting taxes for millions of small businesses that want to expand and put Americans back to work.

Over the last few years, the wealthiest one percent of Americans has taken home the greatest share of the nation’s income since the roaring ‘20s.

But while the bank accounts of a few fortunate Americans have grown, their tax bills have not.

The wealthiest Americans now pay the lowest tax rates in half a century.

And while this generous tax code has been good for their bottom lines, it hasn’t been good for America’s bottom line.

Hundreds of billions of dollars in tax cuts – handed out disproportionately to the rich by the previous administration – have fueled skyrocketing deficits and a growing national debt.

Democrats and Republicans alike agree we have to reduce the deficit and rein in the debt.

Unfortunately, the same Republicans who say we have to get our fiscal house in order also claim millionaires and billionaires can’t afford to contribute their fair share to that effort.

They say multi-millionaires like Mitt Romney need lower taxes than ever.

Well, let me tell you what – Mitt Romney doesn’t need another tax break. In fact, he’s got so much money he doesn’t even know where all of it is.

Some of it has run off to Switzerland, the Cayman Islands, Bermuda. No wonder he doesn’t want America to see his tax returns.

So Mitt Romney is doing just fine. And so are the other millionaires and billionaires in this country.

It’s the middle class I’m worried about.

We all know times have been tough the last few years for ordinary Americans struggling just to keep a roof over their heads and food on the table.

The last thing middle class families can afford now is a tax increase.

That’s why Democrats want to keep taxes low for 98 percent of Americans – everyone making less than $250,000 a year.

But while Democrats are focused on how we can help 98 percent of Americans, Republicans are focused on how they can help Mitt Romney and the rest of the top 2 percent.

And they’re willing to hold tax cuts for everyone else hostage just to protect tax breaks for that top 2 percent.

Democrats don’t agree the top 2 percent of wage earners can’t afford to pay the same tax rate they paid when Bill Clinton was president – back when the budget was balanced and our economy was creating tens of millions of new jobs.

Still, we’re willing to have that debate with our Republican colleagues. We’re willing to discuss it reasonably.

But we don’t believe middle class families should wait and wonder, watch and worry whether their taxes are about to go up while Congress has that conversation.

We shouldn’t wait until the last second to act.

This is what one major newspaper wrote yesterday about the need to act:

“The majority of Americans, and the broader economy, should not be held hostage again to another debate over the merits of tax cuts for the wealthy…. There will never be consensus for solving our nation’s budget problems without first ending the lavish tax breaks at the top.”

So I call on my Republican colleagues to help Democrats give 98 percent of American families the certainty and the security they need right away.

I call on them to help us pass a tax cut that will benefit the middle class without bankrupting our nation.

Because it’s time we faced facts: if we’re serious about reducing the deficit, we can’t keep handing out more tax breaks to the richest Americans.

We will have to make difficult decisions about where to cut and where to invest to keep our nation strong.

But whether to keep taxes low for middle class families shouldn’t be one of the difficult decisions.

I haven’t heard one person – Democrat, Republican or Independent – say we should raise taxes on middle class families.

This is an area where we can easily find common ground.

So, what’s stopping us from doing the right thing – right now? I hope it won’t be more Republican hostage-taking on behalf of the top 2 percent.

Take a look at the map below for a glimpse of how many jobs could be created by state, or click here for a larger view.

Manufacturing, Construction Among Industries That Would Get Biggest Boost

Study Adds Fresh Momentum to Tax Cut Proposal Ahead of Key Test Vote in Senate Later Today

WASHINGTON, DC—The small business tax cut proposal under consideration this week in the Senate would add nearly 1 million new jobs to the U.S. economy, according to a new, independent report released by Senate Democrats on Tuesday.

Nearly two-thirds of the net job creation—about 631,000 of the total 990,592 jobs added—would come from small businesses, according to the nonpartisan estimate. The projection adds fresh momentum to the tax cut measure ahead of a key test vote in the Senate later today.

“Creating close to one million jobs would put a meaningful dent in the unemployment problem,” said Senator Charles E. Schumer (D-NY), who chairs the Senate Democratic Policy and Communications Center. “This tax cut is not a cure-all, but it could be a difference-maker for small firms on the fence about adding payroll. After last month’s sluggish jobs numbers, we may be on the verge of a rare moment of agreement on how to help the economy.”

“This report is further evidence that a new tax cut for small businesses to hire and increase wages will provide a significant boost to the economy. Small businesses are the drivers of economic growth in Pennsylvania and across the country, and passing this tax credit will help them create good-paying, family-sustaining jobs, said Senator Bob Casey (D-PA), the Chairman of the Joint Economic Committee and a co-sponsor of the proposal.

The analysis was performed by Regional Economic Models, Inc. (REMI), an independent, Massachusetts-based firm that conducts economic modeling on behalf of public- and private-sector clients.

“Since businesses that qualify are in each state, we find job impacts in all parts of the country,” said Frederick Treyz, CEO of REMI. “Most job impacts are in services, yet all sectors are affected by the tax changes. Specifically, we see large impacts in construction as some of the provisions target capital costs and because this industry is very responsive to overall economic conditions.”

The Senate Democrats’ tax cut proposal was first proposed by President Barack Obama last year. It would give a 10-percent tax credit to businesses that add payroll in 2012, either by hiring new workers or giving raises to existing employees. Companies would be eligible for the tax break on the first $5 million of new payroll, for a maximum credit of $500,000.

A second element of the proposal would allow businesses to write off 100 percent of the value of new capital investments they make in 2012. Current law only allows businesses to write off 50 percent of these costs.

The report estimated that the proposal’s two main components would have a nearly equal job-boosting effect. The tax credit for firms that add payroll would spur 483,786 new jobs, according to the report. The bonus depreciation provision would be responsible for the addition of 497,554 jobs.

The report concludes that the proposal’s impact would be felt across a range of industries. It estimated that 93,231 new jobs would be added to the construction industry and 60,620 would be added in manufacturing.

A copy of the report—complete with a state-by-state breakdown of the jobs impact of the tax cut—is attached.

Washington, D.C. – Nevada Senator Harry Reid spoke on the Senate floor today regarding the Small Business Jobs and Tax Relief Act. Below are his remarks as prepared for delivery:

My Republican colleagues talk a good game on taxes.

But Democrats’ record of cutting taxes for small businesses speaks louder than Republican rhetoric.

Since President Obama took office, Democrats have cut taxes for small businesses 18 times.

And today we’ll advance a plan to cut taxes for small firms for the 19th time in just three and a half years.

The Small Business Jobs and Tax Relief Act would put money back in the coffers of true job creators.

Under our plan, business owners who hire new workers or give raises to current employees would get a 10 percent tax credit.

Our legislation would also cut taxes for firms that invest in new equipment, allowing more than 2 million businesses to grow faster.

These two proposals will create almost a million new jobs.

And economists from across the political spectrum agree this is the most efficient way to give the economy a badly-needed boost.

So if my Republican colleagues want their records to match their rhetoric, they’ll end their filibuster of this worthy measure.

And they’ll vote to support the real job creators – businesses that grow and hire.

Unfortunately, while Republicans agree we should cut taxes, their approach is completely different.

Congressional Republicans want to lavish huge, across-the-board tax breaks on billionaire hedge fund managers and mega-rich celebrities like Donald Trump.

Unlike our proposal, the Republican plan, which passed the House, wouldn’t do a thing to encourage hiring.

More than 99 percent of businesses in America would qualify for this extravagant tax break – even if they didn’t create a single new job or raise wages for one solitary employee.

In fact, fabulously rich so-called “small business owners” like Kim Kardashian and Paris Hilton could qualify for these wasteful giveaways.

Even though three-quarters of Americans oppose more tax breaks for wealthiest few, nearly half the benefits of this $46 billion Republican proposal would go to millionaires and billionaires.

Democrats want to cut taxes for small businesses – but the Republican alternative is simply the wrong way to do it.

Summary of the Small Business Jobs and Tax Relief Act

1.     Creates an Incentive For Small Businesses to Add New Jobs This Year.  Although the economy is recovering from a severe economic recession, a tax credit designed to stimulate job creation and wage increases could help put more Americans back to work and provide tax relief targeted at America’s small businesses. This proposal would provide a 10 percent income tax credit on new payroll—through either hiring or increased wages—added in 2012. With a maximum increase in eligible wages of $5 million per employer and the amount of the credit capped at $500,000, the benefits of this tax credit will be targeted on America’s small businesses.

• CBO Deems It Effective Way to Spur Growth and Increase Hiring. The Congressional Budget Office has determined that proposals like this, which would reduce the cost to businesses of adding employees or increasing payroll, “would have the largest effects on output and employment per dollar…” compared to those that “affect businesses’ cash flow but would have little impact on their marginal incentives to hire…” [CBO, 11/15/2011]
• Leading Economists Support Tax Relief for New Payroll. Former Vice Chairman of the Board of Governors of the Federal Reserve System Alan Blinder has endorsed the idea as a job creator, proposing that “the basic idea is to offer firms that boost their payrolls a tax break. As one concrete example, companies might be offered a tax credit equal to 10% of the increase in their wage bills (over 2011 levels, say). No increase, no reward.” Other prominent economists who have endorsed the concept of increased payroll incentives include Paul Krugman and Mark Zandi. [Wall Street Journal, 7/12/2011; New York Times, 1/20/10; Moody’s, 9/9/2011]

2.     Extends 100-Percent Depreciation Deduction For Certain Property. Typically, businesses expenditures are tax deductible in the year in which they are made, except for major purchases (such as large equipment or buildings), which must be written off over many years. One hundred percent depreciation allows businesses to write off the entire cost of major purchases in the year they are made rather than depreciate those expenses over many years. By accelerating in time the recovery of investment costs through “bonus depreciation,” additional first-year deductions for new investment lower the after-tax costs of plants and equipment. This encourages new investment and promotes economic recovery. Senate Democrats propose extending 100 percent first-year depreciation for one year, effective for qualified property acquired and placed in service before January 1, 2013 (or January 1, 2014 for certain longer-lived and transportation property).

• Bonus Depreciation is a Bipartisan Approach to Growing the Economy. Bonus depreciation has traditionally garnered bipartisan support:
• The Job Creation and Worker Assistance Act of 2002 was introduced by House Republicans and passed the Senate by a vote of 85 – 9.  [Vote 44, 3/8/02]
• The Tax Relief, Unemployment Compensation Reauthorization and Job Creation Act of 2010 expanded bonus depreciation to 100 percent. The bill was passed in the Senate by a vote of 81 – 19. [Vote 276, 12/15/10]
• Last December, the House Republicans overwhelmingly voted for an extension of 100 percent bonus depreciation in H.R.3630. [Vote 923, 12/13/11]
• Bonus Depreciation is a Proven Way to Help Small Businesses Invest and Grow. According to the U.S. Department of the Treasury’s Office of Tax Policy, extending bonus depreciation will provide a tax cut to over 2 million businesses. In addition, the analysis estimates that 100 percent expensing reduces small businesses average cost of capital across all investment by more than 75 percent. [U.S. Treasury Office of Tax Policy, 11/2010]
• Economists Consider Bonus Depreciation One of the Most Productive Ways to Boost GDP. There is substantial empirical evidence that accelerated depreciation boosts business investment. For example, an analysis by the Institute for Policy Innovation estimated that every $1 of tax cuts devoted to accelerated depreciation generates about $9 of GDP growth. [Institute for Policy Innovation, 10/10/2001]
• Businesses Add Jobs When They Make Capital Investments. Studies by economists across the political spectrum have found that earlier, less generous versions of bonus depreciation have created 2 to 3 hundred thousand jobs. [American Economic Review, 7/2008]

“Passing this small business bill is a small step towards creating jobs, but now it’s time for House Republicans to take the much more important step of passing the Senate’s bipartisan transportation jobs bill, which nearly three million hard-working Americans rely on for their paychecks. This is not hard – there is a bipartisan bill on the table, all House Republican leaders have to do is bring it to the floor and let it pass with bipartisan support, instead of letting the Tea Party force yet another fight where there does not have to be one.”

There is broad, bipartisan, bicameral support for the legislation the Senate is considering today, H.R.3606 – the IPO bill.

This bill passed the House on an overwhelming, bipartisan vote. President Obama supports it. And both Democrats and Republicans in this Chamber are eager to pass it.

It is a good piece of legislation that will improve innovators’ access to capital and give startups the flexibility they need to hire and grow.

But it isn’t a perfect bill. As with any other piece of legislation, there are ways we could strengthen and improve it.

To that end, the Senate will consider two germane amendments to the IPO bill that will protect investors and prevent fraud.

The first amendment – sponsored by the Senator from Oregon, Senator Merkley and others – deals with companies that raise capital online from small investors.

This bipartisan amendment will ensure watchdogs are in place to protect those small investors and their money from fraudulent companies and abuse of the system.

The second amendment – sponsored by Senator Reed of Rhode Island – will ensure fair and honest disclosure by companies raising capital.

It will stop businesses from gaming the system and avoiding oversight by hiding thousands – or tens of thousands – of investors.

Democrats and Republicans agree we need to pass the IPO bill and make it easier for American companies to raise capital, grow their operations and hire new workers.

But we must do so in a way that balances the needs and rights of investors, and prevents fraud and abuse.

These two amendments will go toward accomplish that. They won’t make the bill perfect, but they’ll make it better.

There is no reason Republicans should not join with Democrats to pass this strengthened bill, and send it back to the House as quickly as possible. I hope they will do so.

While the IPO measure before the Senate today is an important piece of legislation, experts agree its impact on job creation will be limited.

The legislation Senate Republicans blocked yesterday, on the other hand, supported 300,000 jobs last year.

My friend, the Republican Leader, has been talking non-stop about how important it is for Congress to continue to create jobs.

So I am disappointed that yesterday Senate Republicans – led by Senator McConnell – rejected this opportunity to help American exporters grow and hire.

The Ex-Im Bank helps American exporters compete in a global economy, and has always enjoyed broad, bipartisan support – until yesterday.

It is backed by the National Association of Manufacturers, the Business Round Table and the U.S. Chamber of Commerce.

It will reduce the deficit by $1 billion.

It has Republican cosponsors. And in years past it has passed the Senate by unanimous consent.

In fact, my Republican colleagues – including many who voted against this amendment yesterday – admit they support this Export-Import Bank proposal.

The Republican Leader urged his caucus to vote down this worthy proposal – supposedly because he wants to pass it separately.

But that offer is hollow. Republicans want to appear to support the Ex-Im Bank.

But Democrats actually do support the Ex-Im Bank. We want it to become law.

House Republicans have shown no desire to even consider this important jobs measure – let alone pass it.

The only way to ensure the Ex-Im Bank can continue to help American companies grow and create jobs is for the Senate to attach it to the IPO bill.

Yesterday, Senate Republicans had an opportunity to join with Democrats to create hundreds of thousands of jobs in this country. They passed up that opportunity.

Once again, they chose to pick an unnecessary fight instead.

Democrats’ number one priority is to create jobs. I hope Senate Republicans get their own priorities straight, and decide to join us.

“Today, Republicans voted against an overwhelmingly bipartisan measure that would have supported more than 300,000 American jobs simply to provide cover for Tea Party extremists in the House. Once again, Republicans are manufacturing a fight instead of working with Democrats on bipartisan solutions to create jobs. Reauthorizing the Export-Import Bank is something that has always been done on a broad, bipartisan basis. Yet like so many other common-sense measures that used to pass without a fight, Republicans have turned this bipartisan bill into a partisan political battle.

“Republicans must now explain to the American people why they decided that the marching orders they received from their extremist Tea Party allies are more important than the jobs of hard-working Americans across the country.”

Last night a bipartisan group of senators, led by Senator Pryor and Senator Alexander, talked about the need to bring appropriations bills to the floor.

I am a long-time member of the appropriations committee, as is the Republican Leader, and we understand the importance of working on these bills.

In recent years we have done omnibus and minibus spending bills instead of individual appropriations bills. We have to get away from that.

For the integrity of the Senate, Democrats and Republicans must agree to cooperate to get this important work done.

I commend Senator Warner, Senator Hagan, Senator Isakson, Senator Boozman and Senator Graham, who joined Senator Pryor and Senator Alexander on the floor for last night’s colloquy.

I applaud their work, and look forward to working with my Republican colleagues to bring appropriations bills to the floor in regular order.

When President Obama took office three years ago, the auto industry was on life support. And Republicans wanted to pull the plug.

One man seeking the Republican nomination for president said we should “kiss the American automotive industry goodbye.”

He called the death of American auto manufacturers “virtually guaranteed.”

And he argued we should let Detroit go bankrupt.

He wasn’t alone. Some Republicans in this Chamber agreed.

But Democrats weren’t willing to give up on American manufacturing.

Because saving the auto industry wasn’t about saving corporations. It was about saving millions of Americans who work for those corporations.

It wasn’t about saving the people who own race cars. It was about saving the people who work on assembly lines making parts to keep those race cars running.

There was no way Democrats would walk away from millions of Americans whose jobs were on the line – Americans who work in dealerships and distribution centers and manufacturing plants across the country.

So we didn’t give up the fight to save the auto industry. We didn’t give up even when one Senate Republican called our efforts “a road to nowhere.”

The verdict is in – we were right to fight.

The American auto industry has added 160,000 jobs over the last two years.

Last year General Motors reported record profits and sold more vehicles than any other car company in the world.

Chrysler is profitable again, and growing faster in the U.S. than any other major automaker.

So when a Republican presidential frontrunner said we should “kiss the American automotive industry goodbye,” he couldn’t have been more wrong.

We all get one wrong occasionally. The test of character is admitting when we make a mistake.

And it’s time for Republicans to recognize that saving American auto manufacturers – and millions of middle-class jobs – was the right thing to do.

Good news from the auto industry and 23 months of private sector job growth are evidence our economy is headed in the right direction.

But too many Americans are still hurting financially or struggling to find work. And it is crucial Congress continue efforts to create jobs and rebuild our economy.

So Democrats are moving forward with a bipartisan package of jobs bills that will spur small businesses growth.

These measures will improve innovators’ access to capital. And they will streamline how companies sell stock through initial public offerings or IPOs.

These pieces of legislation will also protect the rights of investors.

Next week Chairman Johnson, the Senior Senator from South Dakota, will hold a Banking Committee hearing on this issue. It will be the third hearing on these measures since December.

Senate Democrats have been working on these measures for months.

I am glad to see House Republicans joining Democrats to move this legislation. Common-sense issues like these should not have to turn into knock-down, drag-out fights.

I look forward to moving these measures and our economy forward with the help of my Republican colleagues.

Washington, D.C. – Nevada Senator Harry Reid made the following remarks today on the Senate floor regarding Republicans’ obstruction of job-creation efforts. Below are his remarks as prepared for delivery:

Yesterday morning a gunman entered an IHOP restaurant in Carson City, Nevada and opened fire, killing four people and wounding several others before killing himself.

We are still learning the details of this tragedy. But we do know five of the victims were members of the Nevada National Guard.

It appears the gunman was targeting men and women in uniform, although authorities say the motive is unclear. Three Nevada National Guard members died yesterday from their wounds, as did one civilian.

Citizen soldiers willingly sacrifice time with their families and knowingly put themselves in harm’s way to protect a grateful nation. But no one expects to be in danger when they go out for pancakes in the morning.

I thank these five brave guardsmen for their commitment to Nevada and to this country. My thoughts are with them again today.

My heart also goes out to the families of the other Nevadans who were killed or wounded yesterday.

It is hard to imagine such a terrible thing taking place in the quiet town of Carson City, where I spent so much time when I was a Nevada state legislator and lieutenant governor. I wish all the citizens of Carson City well as they begin the process of healing after these shocking events.

This fall Democrats in Washington are hoping to find Republican allies willing to reach across the aisle for the sake of putting Americans back to work.

For months Republicans have wasted our time on partisan politics.

They have used unrelated amendments and procedural stall tactics to kill good pieces of legislation that have always had the support of Republicans and Democrats.

They blocked reauthorization of the Economic Development Administration, which created 314,000 jobs by spurring private investing using public grants awarded over the last five years. The EDA has worked with local businesses and universities in economically challenged areas to create jobs for 45 years.

And for nearly two months they held up efforts to pass a long-term reauthorization of the Small Business Innovation and Research Program before finally killing the bill altogether. This legislation would have helped more small technology companies – which invented everything from the electric toothbrush to armor for the Bradley tank – to innovate, grow and put Americans back to work.

The failure of these two pieces of legislation alone cost hundreds of thousands of jobs.

Republicans’ obstructionist tactics also cost time. And every moment wasted on procedural hurdles or useless amendments was a moment we weren’t creating jobs.

As Republicans held up the work of Congress for months in the hopes of defeating the President, they also held up our economic recovery.

We saw the toll in last month’s jobs report, which showed unemployment holding steady. That report should be a wakeup call to my colleagues on the other side.

It gives me hope that the Senate is now moving forward with the America Invents Act. It will reform this nation’s outdated patent system and create 270,000 jobs. And it will clear a three-year backlog of patent applications, so American inventors can take the next iPod or electric car from the drawing board to the production line.

I hope that spirit of bipartisanship continues. Because this Congress and this country cannot afford to waste any more time.

There are two things we must do this month that would create jobs right away. First, we must extend the authorization of the Federal Aviation Administration, safeguarding both airline passengers and aviation jobs. This legislation will protect 280,000 workers, including tens of thousands of construction workers, from layoffs at a time when jobs are already tough to find.

Second, we must authorize federal spending for this nation’s highways. About 1.8 million construction jobs on highway and mass transit projects nationwide are at stake.

But we should also consider any bipartisan idea to get our economy humming again.

Here are two ideas that Republicans have supported in the past: payroll tax cuts and an extension of Unemployment Insurance.

Extending the payroll tax cut could save 972,000 American jobs in 2012. Extending Unemployment Insurance during these tough economic times would save 528,000 American jobs.

Speaker Boehner and Leader Cantor wrote to the President yesterday, saying “our differences [should] not preclude us from taking action in areas where there is common agreement.”

I agree. Let’s start with the four commonsense, bipartisan measures I’ve just mentioned. They would create or save more than 2 million jobs.

So I urge my Republican colleagues, and in particular to Republican leaders, to remember these words: “our differences [should] not preclude us from taking action in areas where there is common agreement.”

House Republicans Have Been Too Busy Jamming Social Policy Measures Onto Budget To Do Anything On Jobs

WASHINGTON, DC—U.S. Senator Charles E. Schumer released the following statement Monday in advance of a speech by House Majority Leader Eric Cantor on House Republicans’ “pro-growth economic plan”:

“House Republicans must be realizing they have some catching-up to do on the jobs issue. It will take more than a speech to fix an agenda that has so far forgotten about small businesses. Since taking over the House, Republicans have been too busy jamming a far-right social agenda onto the federal budget to bring up a single jobs bill for a vote in the House. They have voted to raise taxes on small businesses and end loan guarantees that provide important access to capital. Each day, House Republicans are proving that too much ideology in government is a burden for U.S. businesses just like too much regulation is.”

House GOP Tries To Play Catch-Up On Jobs, But Record Shows They’ve Forgotten About Small Businesses

After Doing Nothing On Jobs, Republicans Have Started to Pay Lip Service to Jobs Issue.

Republicans ‘Worried They Are Losing Ground On Jobs.’  “As Vice President Joe Biden met with congressional leaders Thursday to try to resolve the impasse over government spending, Republicans were beginning to worry they were losing ground on voters’ top concern: jobs.” [Los Angeles Times, 3/3/11]

Republicans Think They Need to Make A Better Case on Jobs. “While Republicans keep up the drumbeat on budget cuts, Senate GOP leaders and freshmen agree: The party needs to better make their case to voters that reining in the national debt will create jobs.”  [Politico, 3/11/11]

Republican Jobs Plan: Insert the Word ‘Jobs’ Into Talking Points and Speeches. “GOP leaders have recently begun inserting the word ‘jobs’ into talking points, floor statements and press conferences. They acknowledge that they haven’t done a good enough job framing the current debate over spending as an economic issue.”  [Roll Call, 3/13/11]

But The House GOP Has Repeatedly Blocked Efforts to Help Small Businesses.

House GOP Opposed $12 Billion in Tax Relief For Small Businesses. In September 2010, all but one member of the House GOP caucus opposed the Small Business Jobs Act.  The bill contained 8 different extensions or expansions of tax cuts for small businesses, which added up to $12 billion in tax relief for small businesses.  The tax cuts included the elimination of all capital gains taxes for investment in small businesses and an increase in the amount of deductions for start up costs a small business owner can claim.  [Vote 539, 9/23/10; SBA.gov; New York Times, 9/14/10]

Republicans Voted to Repeal Tax Cuts For Four Million Small Businesses. Earlier this year Republicans voted to repeal tax credits for four million small businesses to help them pay for health coverage for their workers.  To qualify for the credit a company had to have fewer than 25 full employees and pay an average salary of less than $50,000 a year.  The credit was up to 35% depending on the size of the company.  [Vote 14, 1/19/11; Los Angeles Times, 12/27/10]

• Survey: Tax Credits Are Being Widely Used. A Kaiser Foundation survey found that more small businesses were offering health benefits to their workers by using a tax credit in the health care reform law that provides small businesses offset the cost of providing health care to their employees.  In the first six months after the healthcare bill was signed into law United Health Group, the country’s largest insurer, added 75,000 new customers who work for companies of less than 50 employees.  Coventry Health Care, an insurer who is focused on mainly small businesses had an 8% jump in the first nine months of 2010 when is signed contracts to over 115,000 workers.  [Los Angeles Times, 12/27/10]

House GOP Opposed Bill that Created $30 Billion Lending Fund for Small Businesses. In September 2010, every member of the House GOP caucus save one opposed the Small Business Jobs Act.  The bill, which was ultimately signed by President Obama, created a $30 billion lending fund for small businesses. [Vote 539, 9/23/10; SBA.gov; New York Times, 9/14/10]

House GOP Spending Plan Cuts Funding For Loan Guarantee Program That Helps Small Businesses Fund Clean Energy Projects and Create Jobs. HR.1, the House GOP’s spending proposal, contains billions in cuts to the Department of Energy’s loan guarantee program.  The program provides loan guarantees to help businesses mitigate the risk of funding clean energy projects. [HR. 1; Center For American Progress, 3/3/11]

Speaker Boehner Rejected Concerns That GOP Spending Plan Would Cut Hundreds of Thousands of Jobs, Saying ‘So Be It.’ Despite independent estimates that H.R. 1, the House GOP’s spending proposal, would eliminate between 200,000-700,000 jobs, Speaker Boehner has rejected concerns about possible job losses. Asked about the concern at a press conference in February, Boehner declared, “So be it.” [Reuters, 3/2/11; Washington Post, 2/28/11; Washington Post, 2/15/11]

“Republicans may have promised to drag their feet on every jobs bill we bring to the floor, but Democrats won’t stop fighting to put Americans back to work and get our economy solidly back on its feet. While they’ve been playing politics, we’ve been creating and protecting hundreds of thousands of jobs. Now we’re focused on spurring innovation by the 30 million small businesses that are the lifeblood of our economy.

“The tens of thousands of small businesses that have already participated in the successful Small Business Innovation Research Program have invented everything from the Bradley tank to the electric toothbrush over the last three decades. And they are responsible for nearly 40 percent of the nation’s patents. We need to continue to invest in the small businesses working hard to come up with the next great technological advancement, and give them the long-term stability they need to put Americans back to work.”

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The Small Business Innovation Research Program Creates Jobs, Stimulates the Economy and Keeps America Competitive.

America’s nearly 30 million small businesses are key to economic growth, job creation and innovation. For nearly three decades, small businesses have used $28 billion in federal innovation investments to expand and hire new workers. After eight short-term reauthorizations, it’s time to give stability to the Small Business Innovation Research (SBIR) program and Small Business Technology Transfer (STTR) program so they can continue to support America’s small businesses.

·         Nearly 30 Million Small Businesses Are Key to Economic and Job Growth. America’s nearly 30 million small businesses are essential to our economic and job growth, representing 99.7% of all U.S. employers and employing more than half of all private sector employees. Small businesses have generated 64% of net new jobs over the last 15 years.

• Established Under President Reagan, SBIR Awards R&D Investments Through 11 Federal Agencies. First established in 1982 under President Ronald Reagan, the Small Business Innovation Research (SBIR) program currently supports small businesses across America through the research and development budgets at 11 federal agencies, including the Department of Defense.

• SBIR / STTR Programs Have Invested More than $28 Billion in America’s Small Businesses. Since their inception the Small Business Innovation Research (SBIR) Program and the Small Business Technology Transfer (STTR) Program have distributed nearly 89,000 investments totaling $28 billion.

• SBIR-Backed Firms Have Been Responsible for 25% of Crucial Innovations. Small businesses produce more than 13 times more patents than large businesses and employ nearly 40 percent of America’s scientists and engineers.  Studies show SBIR-backed firms have been responsible for roughly 25% of the nation’s most crucial innovations over the past decade and account for 38% of America’s patents.

• The SBIR/STTR Reauthorization Act Protects Against Waste, Fraud And Abuse.  S. 493 includes oversight and fraud prevention measures that require the Inspector General of each participating agency to establish fraud detection measures and coordinate with other agencies on information sharing.

• SBIR/STTR Technology Is Used in the B-2 Bomber, First Responder Communications and Electric Toothbrushes. We use SBIR/STTR technology in the military’s Bradley tank, the B-2 Bomber pilot alert system, communication antennas for first responders in disaster zones, vehicles for fire fighters combating wildfires, sensors used to detect brain injuries for high school athletes, and even, inside electric toothbrushes, to name a few.

• The Bipartisan SBIR/STTR Reauthorization Is Strongly Supported By Business Advocates. S. 493 is supported by groups such as the U.S. Chamber of Commerce, the National Federal of Independent Business, the National Small Business Association, BIO and the National Venture Capital Association.

• After Ten Short-Term Extensions, SBIR Needs Long-Term Reauthorization To Ensure Stability. The last long-term authorization of the SBIR program expired in 2008. Since then, the program has been operating under 10 short-term extensions, with the current authorization set to expire in May 2011.  To help small businesses succeed, we must provide continuity to allow these high technology firms to grow and expand.

Number of Investments and Total Investment Amount by State Since 1983