Thread: Politico: Obama jobs plan has $300B price tag

Obama jobs plan has $300B price tagBy: Tim Mak
September 7, 2011 06:02 AM EDT

With the economy struggling and his reelection campaign gearing up, President Barack Obama plans to propose a jobs package worth $300 billion to boost the economy, mostly in tax cuts, infrastructure spending, and direct aid to state and local governments, according to reports on Wednesday.

The two central measures to be taken in the package will be a one-year extension of a payroll tax cut, and an extension of expiring jobless benefits, according to the Associated Press. These two measures alone would total around $170 billion.

Obama will also consider a tax benefit to those businesses that hire the unemployed, with a price tag of around $30 billion. Public works projects will also be included, but the AP reports that this will be less than $50 billion of the package.

The president will also continue, for one year, a tax break for business that allows them to deduct the full value of equipment.

Obama will ask Congress to offset the cost of these measures by raising tax revenue in later years, as part of a long-term deficit reduction package. However, White House spokesman Jay Carney said that he did not expect Obama to lay out a long-term deficit reduction package in his jobs speech.

Meanwhile, Republicans predicted that the jobs speech that the president is scheduled to make on Thursday would end in failure. Senate Republican leader Mitch McConnell said that he expected “more of the same failed approach that’s only made things worse over the past few years.â€

The two central measures to be taken in the package will be a one-year extension of a payroll tax cut,

Will they be checking whether the employees are legal and when they got here. Other wise the new employees could easily be new illegal aliens.

OBAMA
Every thing the American buy is from china ? Im sure I hell
we have American that can sew . & build . just as good as another country
& better
but you go over sea to see about jobs .that a good one
why out in Pa two company close the door why they move to mexico that a good one . & yet the illegal immigrants still look
for work .
why the company don't want to pay . they want it cheap that why they hire the illegal immigrants

so don't say you have jobs for the American you are full of S////
walk down in NYC in any store & see who the hell is working sure In hell
Not Amercian
all the other country that who .
you are going to Creation job that a good one
get some sewing Factory In town Not only In NYC what about Pa at one time they had 5 sewing factory ON one street
I was told had 30 factory In one town
yes this is In PIttson Pa * now not one
so you want to Creation jobs get some sewing factory in Pittston PA
& all the other town's
& Put made IN the USA
we all want Jobs
I know for thing you come on I turn you off why all you do Is BS


No amnesty

He should have concentrated on jobs as soon as he was elected, instead of bending over for his buddies, with the colossal failures of Obamacare, cash for clunkers, bailing out Wall St and car makers, giving more money to Acorn,Laraza and others.

Too late now Obumble. Is it 2012 yet?

The first stimulus bill was 800 billion. It bailed out State and Local governments, public employee unions, and big corporations that supported the Democrats. There were also a number of give away programs. And that was it. That's why it didn't work properly. Everybody else was left hanging. This new stimulus program sounds like a smaller version. It will increase the deficit by another 275 billion with no way to pay for it.