Congress passes a jobs bill. Good for it.

Time: The Senate today passed by a 68-29 margin a $17.6-billion measure intended to spur hiring nationwide, sending the bill to the White House for the president's expected signature... The bill would grant employers an exemption from their 6.2% Social Security payroll contribution for every new employee hired through the rest of the year, as long as that employee had been out of work for at least 60 days. An additional $1,000 income tax credit would be allowed for every new employee kept on the payroll for 52 weeks... The measure also would make it easier for businesses to write off equipment purchases and would pump billions into federal highway and mass-transit funding programs, which Democrats hope will jump-start construction projects. Read Article

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