WASHINGTON (MNI) – The following is a breakdown of the costs
associated with the America Jobs Act unveiled by President Barack Obama
Thursday provided by the White House:

1.Tax Cuts to Help America’s Small Businesses Hire and Grow ($70
Bln)

– Cut employer payroll taxes in half & bonus payroll cut for new
jobs/wages $65 Bln

– Extend 100% expensing in 2012 $5 Bln

2. Putting Workers Back on the Job While Rebuilding and Modernizing
America ($140 Bln)

– Teacher rehiring and first responders $35 Bln

– Modernizing schools $30 Bln

– Immediate surface transportation $50 Bln

– Infrastructure bank $10 Bln

– Rehabilitation/repurposing of vacant property (neighborhood
stabilization) $15 Bln

– National wireless initiative $0*

– Veterans hiring initiative n.a.

3. Pathways Back to Work for Americans Looking for Jobs $62 Bln

– UI Reform and Extension $49 Bln

– Jobs tax credit for long term unemployed $8 Bln

– Pathways back to work fund $5 Bln

4. More Money in the Pockets of Every American Worker and Family
($175 Bln)

– Cutting employee payroll taxes in half in 2012 $175 Bln

TOTAL: $447 Billion

* Proposal has a gross cost of $10bn, but a net deficit reducing
impact of $18bn because of spectrum auction proceeds.

** Market News International Washington Bureau: 202-371-2121 **

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