–Senate Majority Leader Reid Touts Dems $60 Billion Plan
–Sen. Reid: Plan Would Create ‘Hundreds of Thousands’ of Jobs
–Senate Minority Leader McConnell: Bills Reflect ‘Different Approaches’
–Sen. McConnell: GOP Bill Would Give States Authority For Using Funds

By John Shaw

WASHINGTON (MNI) – Senate Majority Leader Harry Reid said Thursday
the Senate will hold procedural votes at 3 p.m. on rival Democratic and
Republican plans to bolster the nation’s infrastructure.

The Democratic plan would allocate $50 billion for funding roads,
transit, railroad and airport construction and $10 billion to create a
national infrastructure bank for longer-term projects.

The Senate votes Thursday will be on motions to formally take up
the two bills and will require 60 votes to pass.

Both Reid and McConnell said they don’t expect either plan to get
60 votes.

The Republican alternative would fund highway and transit projects
for two years at current levels and give states wide authority to direct
funds to projects they deem important. The Senate GOP bill rolls back
a raft of regulations that the GOP says have hampered job creation.

Reid, in remarks on the Senate floor, said the Democratic plan
would lead to “hundreds of thousands of construction jobs” if enacted.

The entire package, Reid said, would be paid for by a 0.7% surtax
on “the richest of the rich” which he called “so reasonable and so
fair.”

Reid said the infrastructure package would provide a needed boost
to a struggling recovery.

Reid once again taunted Republicans for taking a “tax pledge” to
oppose even a modest tax hike, even on those making more than $1
million.

Reid’s bill is the second Democratic attempt to break up President
Obama’s $447 billion jobs program into smaller parts.

Speaking after Reid, Senate Minority Leader Mitch McConnell
said the Democratic and Republican plans reflect “two very different
approaches” to spurring the economy.

McConnell said the votes on dueling Democratic and Republican plans
is a process that is “not designed to get an outcome.”

Several weeks ago, McConnell pushed a piece of Obama’s jobs plan
that would repeal a requirement that federal, state, and local
governments begin withholding 3% of certain contract payments.

McConnell said the plan would cost $11 billion and would be paid
for by rescinding discretionary funds — a funding source opposed by
Senate Democrats.

McConnell’s bill secured 57 votes but 60 were needed.

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

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