By Walter Alarkon - 03/17/10 02:47 PM EDT
The bill passed on a 68-29 vote, with nearly all Democrats and 11 Republicans backing it.
"We have found a way to hire workers, help businesses that hire them with tax cuts and keep it budget-neutral," said Sen. Charles SchumerCharles SchumerRubio primary challenger loans campaign M Is Trump deliberately throwing the election to Clinton? Why Khizr Khan needs a Democrat in the White House MORE (D-N.Y.), who crafted the hiring tax break with Sen. Orrin HatchOrrin HatchGOP lawmakers call for overhaul of proposed corporate tax rules DEA decision against reclassifying marijuana ignores public opinion Trump op-ed counters Clinton’s pitch to Utah voters MORE (R-Utah).
The bill is fully paid for by increasing enforcement of foreign account taxes, delaying the implementation of a tax break on worldwide interest and raising the corporate estimate tax on large corporations.
The bill also includes new low-cost federal bonds for state and local government infrastructure programs, an extension of the highway trust fund for federal transportation projects and an extension of a tax break allowing companies to write off losses due to depreciating equipment.
Obama has said he will sign the bill.
Before passing the bill, Democrats and a handful of centrist Republicans voted to waive a budget point of order against the bill raised by Sen. Judd Gregg (R-N.H.). Gregg said the bill would raise spending levels above those set by the budget resolution last year.
"It spends more than their own budget called for," Gregg said of the bill.
The one Democrat to vote against the bill was Sen. Ben Nelson (Neb.). The 11 Senate Republicans who voted for it were Lamar AlexanderLamar AlexanderGOP Rep. Black wins primary fight GOP senators to donors: Stick with us regardless of Trump Overnight Healthcare: Mysterious new Zika case | Mental health bill in doubt | Teletraining to fight opioids MORE (Tenn.), Kit Bond (Mo.), Scott Brown (Mass.), Richard BurrRichard BurrFrance, Germany push for encryption limits Republicans say party can’t afford to cut ties to Trump AFL-CIO urges GOP senators to 'renounce' Trump MORE (N.C.), Thad Cochran (Miss.), Susan CollinsSusan CollinsGOP senator considering Libertarian ticket Trump’s Second Amendment people threaten Hillary’s legacy, not life Sunday shows preview: Trump's tough week MORE (Maine), Jim InhofeJames InhofeFeds weigh whether carbon pollution should be measured in highway performance GOP chairman: Kids are ‘brainwashed’ on climate change Feds withdraw lesser prairie-chicken protections MORE (Okla.), George LeMieux (Fla.), Lisa MurkowskiLisa MurkowskiMcAuliffe: I wouldn't want a 'caretaker' in Kaine's Senate seat Big Oil makes a push for risky and reckless Arctic drilling GOP divided over 0M for climate fund MORE (Alaska), Olympia Snowe (Maine) and George Voinovich (Ohio).
Senate Democrats have said this is the first of a string of measures aimed at cutting the 9.7 percent unemployment rate.
The next item Senate Democrats will take up is measures to increase lending for small businesses, Schumer said.
Other measures Senate Democrats said they're considering are tax incentives to have property owners improve the energy efficiency of homes and buildings, an advanced manufacturing tax credit and a 6-year surface transportation reauthorization bill for road, rail and highway projects.
-- This article was updated at 11:44 a.m.