did you miss obama last night?

The centerpiece of the bill, known as the American Jobs Act, is an extension and expansion of the cut in payroll taxes, worth $240 billion, under which the tax paid by employees would be cut in half through 2012. Smaller businesses would also get a cut in their payroll taxes, as well as a tax holiday for hiring new employees. The plan also provides $140 billion for modernizing schools and repairing roads and bridges — spending that Mr. Obama portrayed as critical to maintaining America’s competitiveness. (via)