Obama Targets Bush Tax Cuts
President Obama draws a line in the sand over tax cuts.
The President is expected to urge Congress to let the Bush tax cuts expire for the wealthy…individuals earning over 200-thousand dollars and couples over 250-thousand.
Plus he wants to spend 50 billion on transportation projects and create 200 billion in business tax breaks…allowing small businesses to write off capital investments next year, giving them more cash to hire new workers.
President Obama said, "We're talking investments in tomorrow that are creating hundreds of thousands of private sector jobs right now."
All of it paid for by ending tax breaks for big companies. Republicans say it’s the wrong approach.
House Minority Leader John Boehner said, "I don't think the American people want any more 'stimulus money' coming out of Washington." "We need to get our arms around the out of control spending."
It's a pro-business agenda designed to help ailing Democrats in November. They are facing an electorate that's sick of Washington politics.
Lee Patton of Washington, D.C. said, "The state of the nation is what should be the driving force, and not whether you are Democrat, Republican or some where in between."
President Obama today hoping the promise of more jobs will convince voters to stick with his party.