A draft version of the Senate jobs bill began circulating around Washington, offering a glimpse of the package of spending items and tax cuts Senate Democrats envision as the basis for legislation Majority Reid Harry Reid (D-Nev.) wants to begin debating within days.


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After a meeting between President Barack Obama and the bipartisan congressional leadership of the House and Senate, Reid and Minority Leader Mitch McConnell (R-Ky.) made clear that the jobs bill remains a work in progress so the document does not represent the final package. Reid had hoped to unveil the legislation Tuesday but ongoing discussions between Democrats and Republicans -- along with inclement weather that has kept senators away from the capital -- could push back the time frame for the debate.

The 362-page draft bill touches on a vast array of areas, including extensions for unemployment benefits and COBRA health insurance premiums, tax incentives designed to spur hiring, spending programs on transportation initiatives, low-income housing credits, energy programs, disaster relief, an extension of Patriot Act provisions, extensions of Medicare payment programs, and tax proposal aiming to raise revenue from foreign-held assets and trusts.