1. CLIFFS NOTES

    Senate Dems Push Smaller Jobs Bill

    JEWEL SAMAD / Getty Images

    Senate Democrats said on Monday that they would aim to pass a bill that would send $38 billion to state and local governments to prevent layoffs of teachers and other public sector workers. It would be funded by a 0.5% income tax surcharge on those making over $1 million per year. Republicans and swing state Democrats are expected to oppose the bill. Earlier Monday, President Obama had said that because Congress did not "understand" his jobs bill, he intended to do Congress a favor and break it "into bite-sized pieces" to "give members of Congress another chance to step up to the plate and do the right thing." Senate Minority Leader Mitch McConnell said of the new bill, "Senate Democrats are still focused on the same temporary stimulus spending that's failed to solve our jobs crisis instead of bipartisan legislation that would lead to private-sector job growth."

    Read it at The Wall Street Journal