Pasadena, CA -- (SBWire) -- 12/20/2010 -- President Obama has asked the House of Representatives to quickly pass the bill related to the tax cut and jobless benefits extensions even as some House Democrats want changes to it.

The bill was passed on Wednesday in the Senate 81-19 and is scheduled to be voted on in the House on Thursday. The bill extends the Bush-era tax cut that would have expired on January, 1 and also renews jobless benefits for the long-term unemployed which had started expiring in from November 30. President Obama has told reporters that he wants the bill to pass quickly so that he can sign on it and put it into action. Senate Republicans have also warned that any delays or modifications would scuttle the bill.

But some House Democrats are opposed to the $858 billion tax break because they think the estate tax clause is too generous to the wealthy. They argue that their proposal will $23 billion from the bill and help offset the deficit - a message that the Republicans themselves were pedaling last month when they had held the jobless benefits hostage.

President Obama also met industry leaders on Wednesday for five hours to discuss the state of the economy and how to create more jobs. The 20 corporate leaders did not give any commitment regarding new hiring initiatives. Obama in an interview with USA TODAY in December 2009 said that his greatest fear since taking office is that even if there is an economic recovery, it could be a jobless one.

EmploymentCrossing CEO A. Harrison Barnes says “There have been small pickups in hiring in the past few months nationwide, but part-time and seasonal jobs are still major sources of jobs till now.” EmploymentCrossing has been able to find 372,000 jobs in the last seven days.