On Sept. 12, President Obama unveiled the “American Jobs Act of 2011.” This legislation is intended to stimulate economic growth and job creation. On Oct. 5, Senate Majority Leader Harry Reid, D-Nev., introduced the act in the Senate.

The version introduced by Reid is identical to the administration’s version of the act as it relates to the economic and jobs stimulus programs but differs significantly from the administration’s version of the act with respect to those tax provisions intended to raise the revenue necessary to pay for the economic stimulus provisions.

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