Wednesday, February 11, 2009

House creates more jobs than Senate bill

House Recovery Act Creates More Jobs than Senate Compromise, Will Straw, February 9, 2009, Center for Economic Progress

*Read "House Recovery Act Creates More Jobs than Senate Compromise" for the most up-to-date numbers and state-by-state chart.

Read also: Getting the Economic Recovery Bill Right

The Senate compromise recovery and reinvestment legislation provides for 12 to 15 percent fewer jobs created or saved than the House-passed Recovery and Reinvestment Act despite costing slightly more. The House-passed legislation creates or saves between 430,000 and 538,000 more jobs than the Senate compromise.

As outlined by Michael Ettlinger in “A Step Forward, a Stumble Back,” the greater job creation in the House bill is because the balance is more focused on investment programs than on less effective tax cuts. The reverse is true in the Senate compromise which, among other tax measures, includes a patch to the Alternative Minimum Tax that will not be as stimulative as investments in infrastructure or fiscal help to states that the compromise pares back.

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