Obama Proposes ‘Grand Bargain’ For Jobs

CBS DC

WASHINGTON (AP) — President Barack Obama, seeking to break Washington’s fiscal stalemate, is proposing cutting corporate tax rates in exchange for more spending on jobs programs. But his offer was immediately panned by congressional Republicans, casting doubts about its prospects.

The White House painted the new offer as a way for Washington to create jobs and generate short-term economic growth even as hopes for a grand deficit reduction deal fade. Obama was to announce his proposals Tuesday during a trip to an Amazon.com distribution center in Chattanooga, Tenn.

“We should be looking for other avenues of progress, other ‘grand bargains’ that can be for middle class job growth,” White House economist Gene Sperling said.

The president has previously insisted such business tax reform be coupled with an individual tax overhaul. His new offer drops that demand and calls only for lowering the corporate rate from 35 percent to 28 percent, with…

View original post 675 more words

Advertisements

About dshank92

I am a 21 year old college senior majoring in political science. I volunteered for the Obama campaign in 2012 and even got to meet the Vice President. I love to read and participate in the LGBT community. I love anything to do with politics as well as any current events.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: