Elizabeth Letchworth

By midweek, expect Senate Majority Leader Harry Reid, D-Nev., to tee up a vote on another portion of the president’s stimulus/jobs bill. This section deals with infrastructure projects. The “Rebuild America” initiative provides $50 billion for highway, transit, rail and aviation programs, and is offset by more tax increases for small-business owners and those who make more than $1 million per year.

Last week, the House was in session and was successful in passing a permanent repeal of the 3 percent withholding of payments made to contractors who do business with the federal government. This 3 percent withholding was included in Obamacare and was supposed to help offset the cost of the health-care bill. The assumption was that federal government contractors don’t pay enough taxes and the 3 percent withholding of their payment was to cover, in part, their tax bill. The repeal of the withholding payments was offset by a change in the formula that allows the use of certain adjusted gross income to qualify for programs under Obamacare. Since the offset bill changes the qualifications, fewer people will be entitled to some of the programs under Obamacare. This portion of the stimulus/jobs bill that passed the House is now in the Senate awaiting action.It is doubtful, however, that the Senate majority leader will ask the chamber to consider this bill anytime this week.

The House will be considering further GOP stimulus/jobs proposals dealing with the access of capital for job creation, HR 2490, and a similar bill helping small businesses access capital, HR 2930. The House will also consider a small-business capital formation bill, HR 1070 and HR 1002, a bill that will prohibit states from imposing any new taxes on wireless service. Also, expect the House to vote on a veterans' cost-of-living-adjustment bill, S 894. If the House agrees to S 894 without changes, this will send the bill to the president for his signature.