American Jobs Act
12)[2] was the informal name for a pair of bills recommended by U.S. President Barack Obama in a nationally televised address[3] to a joint session of Congress on September 8, 2011.
[4] He characterized the proposal as a collection of non-controversial measures designed to get Americans back to work, and he repeatedly urged Congress to pass it "right away"; he also said that the bills would not add to the national deficit and would be fully paid for.
The acrimonious debate leading to the passage of this bill made clear that some in the United States Congress considered national default to be a viable political option.
Following passage, Standard & Poor's downgraded the United States top credit rating from AAA to AA+ citing various factors including the long term political struggle to raise the debt ceiling and a lack of credible plans to reduce federal spending and increase tax revenue.
[6] Economic data released in July and August 2011 came in worse than expected, and worldwide stock markets tumbled quickly raising the fear of a new recession.
[9] The President made his speech at 7:00pm Eastern, instead of the usual 9:00pm start for presidential addresses to joint sessions of Congress, so he would be finished before the first game of the National Football League season between the New Orleans Saints and the Green Bay Packers at 8:30pm.
[15] In the Senate, the bill was stalled by Majority leader Harry Reid on September 27, 2011 who said I don't think there's anything more important for a jobs measure than China trade, and that's what we're going to work on next week.
[24] The $35 billion bill providing funding to state governments for public school teachers, police and firefighters would've been paid for with a 0.5% tax on incomes in excess of $1 million annually, beginning January 1, 2013.
674, a bill to amend the Internal Revenue Code of 1986 to repeal the imposition of 3 percent withholding on certain payments made to vendors by government entities, was an element of the larger American Jobs Act and passed the US House of Representatives on a bipartisan 405–16 vote.
[37] On September 12, he gave a speech in the White House Rose Garden in front of a group of teachers, police officers, construction workers and small-business owners in which he stated that if Congress does not act, just about every family in America will pay more taxes next year.
[38]In Speaker Boehner's home state of Ohio, Obama gave a speech described as "fiery" in a Columbus high school that led to the audience chanting: "Pass this bill!
"[39] In a campaign-style rally at North Carolina State University, Obama told college students Every single one of you can help make this bill a reality.
[41] In an October press conference, Obama responded to the suggestion from a reporter that his jobs tour was part of a political campaign, saying The question is, will Congress do something?
[45] Some Republican Members of Congress opposed the act for partisan reasons, with one telling the press anonymously, Obama is on the ropes; why do we appear ready to hand him a win?
[46]Republican Majority Leader Eric Cantor indicated that it would be a tough bill to pass quickly: Insisting that this body and the two sides here agree on everything is not a reasonable expectation.
[47]House Speaker Boehner said the president's bill should be analyzed immediately by the Congressional Budget Office for scoring before the Administration and Congress pursue negotiations.
[38] Cantor confirmed to a reporter on October 3 that the bill as a complete package was effectively "dead" and that only parts of the American Jobs Act would be passed.
With Obama stating a willingness to consider a piecemeal approach on the legislation, Cantor said, At this point, I think that Washington has become so dysfunctional that we've got to start focusing on the incremental progress we can make.
