Debt Ceiling Raised, Job Bills On Deck
With debt ceiling armageddon now averted in the 11th hour (depending upon your perspective), Congress has turned its attention to election season addressing the economy. As previously discussed, the patent reform legislation has long been touted as a “no cost economic stimulus” that will create jobs.
While there are differences with H.R. 1249 and S.23, most notably concerns over fee diversion, the Senate has indicated a willingness to accept the House bill.
Today, Senate Majority Leader Harry Reid (D-Nev.) has identified patent reform as the first jobs bill to be taken up in the Fall term. To ensure quick enactment Senator Reid has indicated he will file cloture today (to remove the “hold”) so that the Senate can take up the bill immediately when the Senate convenes in September.
Reid and bill sponsor Sen. Patrick Leahy (D-Vt.) said the bill, which speeds patent applications, is expected to create 200,000 jobs. Leahy said there is bipartisan agreement with the GOP to move the bill but he could not identify any other bills with a chance of passage.