Webb to vote to move forward Obama’s ‘jobs’ bill

Sen. Jim Webb (D-Va.) announced on Tuesday afternoon he will  vote to move forward President Obama’s jobs legislation when it comes up for a vote in the Senate later in the day.

“Out of respect for the principles of free and open debate, I will be voting to proceed to debate on the American Jobs Act,” said Webb in a statement. “However, I cannot support final passage of the bill in its current form.”

Earlier in the day Webb came the Senate floor to express reservations over the bill's pay-for mechanism that would increase taxes on those who earn more than $1 million annually.

“I again emphasize my belief that rather than increasing taxes on wages or ordinary income, the bill should be paid for by other means such as raising the capital gains rate or ending costly subsidies and tax loopholes,” Webb said in a statement.