Senate Republicans Joined By Two Democrats To Defeat President Obama's $447 Billion Jobs Bill

The bill needed 60 votes but got only 50. The bill would have placed a surcharge on the tax bills of millionaires and provided federal funding for local police, firefighters and teachers. The White House is hoping Congress will vote to keep a cut in the Social Security payroll tax through 2012. It also wants tax breaks for companies who hire unemployed veterans.