On Thursday evening, as announced, President Obama delivered a speech on his job plans. The job plan includes the payroll tax cut extension for the middle class, that might mean $1,500 per individual. He called out to unpopular Congress and Senate to get things done.
The President referred to what included in the Job bill, small business tax cuts, unemployment insurance, building infrastructures such as public buildings, roads, and bridges. The unemployment insurance reportedly costs $150 billion. Overall, the bill include $447 billion stimulus measures.
President Obama described the Job bill as follows:
As for funding of those measures, President Obama said the oil company subsidies should end and the riches should pay their fair share. He said, the CEO's tax rates are lower than the secretaries and that is not acceptable. A report says companies pay more to their CEO's than to the government.
The President referred to the spending cuts of $1.5 trillion, a part of the budget deal.
The President referred to what included in the Job bill, small business tax cuts, unemployment insurance, building infrastructures such as public buildings, roads, and bridges. The unemployment insurance reportedly costs $150 billion. Overall, the bill include $447 billion stimulus measures.
President Obama described the Job bill as follows:
This is the American Jobs Act. It will lead to new jobs for construction workers, for teachers, for veterans, for first responders, young people and the long-term unemployed. It will provide tax credits to companies that hire new workers, tax relief to small business owners, and tax cuts for the middle class.
As for funding of those measures, President Obama said the oil company subsidies should end and the riches should pay their fair share. He said, the CEO's tax rates are lower than the secretaries and that is not acceptable. A report says companies pay more to their CEO's than to the government.
Right now, Warren Buffett pays a lower tax rate than his secretary -- an outrage he has asked us to fix.
The President referred to the spending cuts of $1.5 trillion, a part of the budget deal.
... a week from Monday, I’ll be releasing a more ambitious deficit plan -- a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run.