$17.5 billion jobs bill nears final OK

WASHINGTON (Reuters) - The first of several Democratic job-creation efforts cleared a procedural hurdle in the Senate on Monday and appeared to be headed toward final congressional approval.

The 61-30 vote allows the Senate to hold a final vote on the $17.5 billion package of tax cuts and highway spending within the next two days and send it to President Barack Obama to sign into law.

A final vote will likely come on Wednesday morning, aides said.

Democrats in the House and Senate say job creation is their top legislative priority as they seek to bring down the 9.7 percent unemployment rate before the November congressional elections.

Despite several months of work, Democrats have yet to send a finished bill to Obama due to intraparty bickering and Republican procedural delays.

The Senate approved the bill earlier last month but has to agree on changes made by the House.

It includes a $13 billion payroll tax break for businesses that hire unemployed workers, along with subsidies for state and local construction bonds.

It also extends a highway-construction fund through the end of the year and gives a tax break to small businesses that buy new equipment.

The bill's costs, other than the highway fund, are offset by a crackdown on offshore tax shelters.

(Reporting by Andy Sullivan; Editing by Peter Cooney)