GOP Shoots Down Business Tax Breaks, Jobless Aid

Unemployment line
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Unemployment line

A Democratic planto provide additional aid to jobless workers, businesses and cash-strapped states failed in the U.S. Senate on Thursday in the face of solid Republican opposition.

The bill, which would have extended a set of popular business tax breaks and raised taxes on investment fund managers, fell short of the 60 votes needed to advance in the 100-member Senate.

Democrats had hoped the package, which would have provided additional jobless aid for hundreds of thousands of unemployed workers, would help boost fragile economic growth. But Republicans argued it would have added too much red ink to the $1.4 trillion budget deficit.