WASHINGTON (AP) — Senate Republicans have come out with legislation aimed at creating jobs by overhauling the nation's tax laws, cutting business rules and boosting offshore oil exploration.
The bill is called the "Jobs through Growth Act" and doesn't include a single item in President Barack Obama's jobs legislation, which Senate Republicans killed in a Tuesday night vote.
The GOP plan calls for repealing Obama's health care law and passing a constitutional amendment requiring a balanced budget.
One idea that could win bipartisan support is a proposal to permit U.S. companies to bring home $1.4 trillion in overseas profits that are kept offshore because of high corporate tax rates.
Obama wants to spend money on public works, cut payroll taxes for individuals and businesses and help local governments avoid laying off public workers.
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