Jobs Bill Heads to President's Desk With Bipartisan Support

With help from 11 Republicans, the Senate approved an $18 billion jobs bill Wednesday and sent it to President Obama in the hope that the package of hiring tax incentives lifts the economy and ultimately Democratic chances in the November elections.

The legislation was approved, 68-29, with one Democrat, Sen. Ben Nelson (D-Neb.), joining most Republican senators in opposition.

The centerpiece is forgiveness from payroll taxes for the remainder of 2010 for employers who hire workers that have been jobless for 60 days or more, and a $1,000 tax credit for each such employee who stays at that job for at least one year, The Washington Post said.

"The beauty of this bill: It's simple, it's focused on private-sector job growth and it's paid for," said Sen. Chuck Schumer (D-N.Y.).

The president thanked the 11 Republicans for their support and said the bill "is the first of what I hope will be a series of jobs packages that help to continue to put people back to work."