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SEN. SESSIONS: GOP will oppose new spending on jobs from Obama – The Hill

September 7, 2011

Sen. Sessions: GOP will oppose new spending on jobs from Obama

By Pete Kasperowicz – 09/07/11 11:28 AM ET

Senate Budget Committee ranking member Jeff Sessions (R-Ala.) on Wednesday signaled that Republicans would oppose the jobs plan President Obama is expected to announce Thursday, saying it would only put the United States further in debt at a time when the debt is already weighing on the economy.

“There’s no doubt in my mind that the debt that we’ve now incurred is already weakening our economy,” Sessions said on the Senate floor. “It comes to a point that you can’t keep borrowing in a futile attempt to stimulate the economy when the increased debt itself is weakening the economy.”

Sessions read one press report on the Senate floor that said Obama could propose as much as $300 billion in new spending in his Thursday night address to a joint session of Congress. According to that report, Obama is expected to propose extending payroll tax cuts for another year, and extending expiring jobless benefits. Those two measures combined will cost $170 billion.

He may also propose a tax credit for companies to hire unemployed workers, costing $30 billion, and a public works program that is expected to cost at least $50 billion for such items as school construction.

Other reports say Obama’s total proposals could total less than $300 billion, with some putting the number at $200 billion.

via Sen. Sessions: GOP will oppose new spending on jobs from Obama – The Hill’s Floor Action.

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