–Senate Majority Leader: Working ‘Very Closely’ W/Admin On Jobs Ideas
–Sen. Reid: Expects Senate To Pass Three Trade Bills Wednesday Evening
–Senate Minority Leader McConnell Touts Coming Passage of Trade Bills
–Sen. McConnell: Scaled-Back Jobs Bill Could Be Done By Super Committee

By John Shaw

WASHINGTON (MNI) – Senate Majority Leader Harry Reid and Senate
Minority Leader Mitch McConnell said Wednesday that they are open to
trying to assemble a jobs bill that draws from “pieces” of the plan
offered by President Obama, but neither would say what elements might be
acceptable to both parties and the White House.

In back to back briefings, both Reid and McConnell said they expect
the Senate to complete action Wednesday night on pending U.S. bilateral
trade agreements between the U.S. and Panama, Colombia, and South Korea.

McConnell said passage of the trade bills would be doing “something
important for the country.”

McConnell said that it’s “alarming” that these trade bills might be
final U.S. trade agreements for the “foreseeable future.”

He said Republicans will continue to look for job creating ideas
and forward them to the so-called Super Committee which is expected to
assemble deficit reduction ideas by late November.

The panel may also include some short-term economic growth policies
in its final plan.

Congress’s deficit reduction committee is charged to submit a $1.5
trillion deficit reduction package by Nov. 23.

McConnell made it clear that his idea of what boosts economic
growth may differ from the White House and its Democratic allies on
Capitol Hill.

“The government is not the solution to this sluggish economy,”
McConnell said.

Reid said he is “working very closely” with the White House to
revive parts of President Obama’s $447 billion jobs package.

He said no decisions have been made on what provisions to revive or
what legislative form they should be put in.

Reid hinted that he will continue to push a 5.6% surtax on
household income above $1 million to pay for the cost of any jobs plan.

Republicans are strongly opposed to this idea.

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

[TOPICS: M$U$$$,MFU$$$,MCU$$$]