To sum up the 447 billion dollars will be spent on the following:
- 175 billion for cutting employee payroll taxes in half in 2012.
- 70 billion for cutting and extending employer payroll taxes.
- 140 billion for infrastructure and teacher rehiring.
- 62 billion for pathways back to work for Americans looking for jobs.
Last Sunday Obama announced how he wants to pay for the employment stimulus. His plan is to raise taxes for high earning individuals as well as for corporations. According to The Telegraph there is little change of the Jobs Act passing into law, because the Republicans will be highly opposed to tax increases.