For Immediate Release
June 23, 2010

Baucus Comment on Updated Substitute Amendment to the American Jobs and Closing Tax Loopholes Act

MEMORANDUM

To:         Reporters and Editors
From:   Scott Mulhauser and Erin Shields
for Senate Finance Committee Chairman Max Baucus (D-Mont.)               
Re:   Baucus Comment on Updated Substitute Amendment
to the American Jobs and Closing   Tax Loopholes Act

Senate Finance Committee Chairman Max Baucus (D-Mont.) commented today on the modified substitute amendment he introduced to the American Jobs and Closing Tax Loopholes Act.  From Chairman Baucus:

“For millions of Americans who have lost a job through no fault of their own, the Senate debate on the Jobs Extenders bill has been a fight for the unemployment benefits that help keep a roof over their heads and food on the table, for the career training programs that provide a fresh start, for the health care programs that keep their families well and for the tax cuts to keep more money in their pockets.  At the same time, the Senate debate has been a fight to create the jobs our economy needs to grow by cutting taxes for employers, bolstering small business loan programs and investing in our infrastructure.  For so many families, this is a fight for the job they so desperately want and for the opportunity they continue to believe will come.  

“To build consensus, we’ve made multiple changes to focus the bill and this amendment further cuts spending. This amendment works to bring relief to American families and revitalize our economy and I urge my colleagues to support it.”  

The modified substitute amendment was offered today after Republican objections blocked previous proposals to address the economic crisis by extending tax cuts and bolstering programs for Americans looking for work while, at the same time, creating jobs.

The legislative text and a summary of modifications in the current substitute amendment to the American Jobs and Closing Tax Loopholes Act are available on the legislation page of the Finance Committee Website at: http://finance.senate.gov/legislation/details/?id=1c237e70-5056-a032-52e9-ef5f959b7a76.

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