Obama Details How Jobs Plan Affects Louisiana
President Obama outlines how his jobs bill will affect Louisiana. The plan outlines four steps to getting Louisianans back to work.
The first would cut the payroll tax in half for small businesses making less than $5-million dollars a year. The President says that will spur some 80,000 Louisiana businesses to hire and expand.
The heart of the plan involves investing in various infrastructure improvements, such as improving roads, bridges, schools, and community colleges, saving and adding some 19,400 jobs to the state economy. Louisiana would get $1.5-billion in federal money to accomplish this.
The plan also calls for an overhall of the unemployment insurance system which, Obama says, would put nearly 42,000 long-term unemployed workers in the state back to work.
Finally, families would see their payroll taxes cut in half next year, saving the average Louisiana household $1400 in tax liability.
The President would call on the special Joint Committee created over the summer to come up with ways to pay for the plan.