Obama Attempts To Bridge Support For Jobs Package

With the “functionally obsolete” Brent Spence Bridge at his back, President Obama challenged Republican leaders in Congress to approve his jobs bill that includes over $100 billion for new infrastructure projects and repairs.

Obama admitted that one of the reasons he chose the bridge — which connects Ohio to Kentucky — as his backdrop for today’s pitch, is because of its geographical ties to House Speaker John Boehner (R-Ohio) and Senate Minority Leader Mitch McConnell (R-Ky.).

“[They] are the two most powerful Republicans in government,” he said. “They can either kill this jobs bill, or they can help us pass it.”

Though the president’s $447 billion plan covers a number of areas — including tax cuts and credits, broadband investment and mortgage refinancing for homeowners — it’s the funding reserved for infrastructure projects he focused on today. Obama urged lawmakers to quit squabbling over the need to reign in spending, and approve $50 billion worth of transportation funding included in the bill.

“If you want construction workers rebuilding bridges like this one,” he said, “pass this jobs bill.”

Ohio, in particular, would stand to receive just over $1 billion for highway and transportation projects. The White House says the money would create nearly 14,000 jobs in the Buckeye State, which is plagued by a 9 percent unemployment rate.

Obama argued that aside from the bridge behind him, there are numerous other area transit routes in need of repair.

“I can’t imagine that the Speaker wants to represent a state where nearly one in four bridges is classified as substandard,” he said.

Earlier in the day, Boehner thanked the president for bringing attention to the Brent Spence Bridge, which lies in a district that neighbors the one he represents.

“I know how important the Brent Spence Bridge is to our region,” he said. “I’ve long supported replacing the bridge, and I’m pleased the president is bringing attention to this much-needed project.”

However, Boehner complained that the president’s plan does not put enough emphasis on undoing regulations, which he said are hurting businesses in his state. Boehner also decried Obama’s plan to pay for the bill in part by raising taxes on those earning more than $250,000 per year.

“His plan, in my opinion, will destroy jobs by raising taxes on small businesses and our capital, the key ingredient, I think for job creation in our country.”

Yet, Obama stood by his pay-for proposal, arguing that it appropriately prioritizes a struggling middle class in need of help.

“The Republicans in Congress,” he said, “call this class warfare. Well you know what? If asking a billionaire to pay the same tax rate as plumber or teacher makes me a warrior for the middle class, I’ll wear that charge as a badge of honor.”

Obama Takes Jobs Pitch On The Road

Less than 24 hours after addressing a joint session of Congress, President Obama traveled south down I-95 to showcase his latest jobs proposal before a supportive audience of nearly 9,000 gathered on the campus of the University of Richmond.

Like his speech Thursday night, the president belted out his call for Congress to “pass this bill” early and often. In between his impassioned appeals, Obama rattled off a laundry list of elements within the plan that the White House believes will attract the support of lawmakers on both sides of the aisle.

Namely, Obama pointed to a series of proposed tax cuts and credits that, on paper, should have the blessing of congressional Republicans, who generally favor cutting taxes as a way to stimulate economic growth.

“Everything in the American Jobs Act,” Obama said, “is the kind of proposal that’s been supported in the past by both Democrats and Republicans.”

“Nothing radical in this bill,” he added.

(Click here to see video of Obama’s speech today)

Roughly $245 billion (over half) of the $447 billion plan would be generated through creating or extending new or current tax cuts. $140 billion would be spent on rehiring teachers and first responders, retrofitting schools, encouraging businesses to hire veterans returning from overseas, contracting out surface transportation projects and creating a national infrastructure bank. Finally, another $60 billion would be used to extend unemployment benefits and provide incentives for businesses to hire folks that have been out of work for longer than six months.

It’s an expensive plan that will no doubt cause some in Congress to recoil out of sticker shock. But the president today promised that “everything in it will be paid for.”

Last night, he guaranteed lawmakers that “The American Jobs Act will not add to the deficit.”

Early next week, Obama is expected to present his own plan to cut the nation’s deficit to members of the newly-formed Joint Committee on Deficit Reduction. Though the stated goal of the panel is to identify $1.5 trillion in savings over the next decade, the president will ask them to go further to make sure that his measure is paid for.

Few details of the design are known, but Obama hinted last night that he’ll propose rasing tax rates on the wealthy (likely anyone making more than $250,000 per year), ending corporate tax loopholes, cutting spending and making modest reforms to Medicare and Medicaid.

“This approach is basically the one I’ve been advocating for months,” he told members of Congress. “This isn’t political grandstanding. This isn’t class warfare. This is simple math.”

Obama: We've Stopped The Bleeding, More Must Be Done

President Barack Obama spoke Monday in Fairfax, Va. where he told a group of local residents that his economic policies have “stopped the bleeding” from an economy nearing a state similar to that of the Great Depression. 

Obama reiterated to guests that the rate of recovery has not met his expectations and making up for the 8 million total jobs lost is an “enormous challenge.”.

“The fact of the matter is the pace of improvement has not  been where it needs to be and the hole that we had dug ourselves in was enormous,” Obama said. 

The president called on a Congress fresh off its August recess to pass a small business jobs bill that he said would offer businesses more assurance in prospective tax cuts, giving them more incentive to hire new employees. 

“Pass this bill, I will sign it into law the day after it’s passed or the day it is passed,” Obama said. “Right away, I think a lot of small businesses around the country will feel more comfortable about hiring and making investments.”

Obama also told the small group of northern Virginia residents that a Republican backed extension of Bush-era tax cuts is too expensive for the country.  The president said that his administration is still “in this wrestling match with John Boehner and Mitch McConnell” over extending tax cuts for the richest two percent of Americans. 

“We just can’t afford it,” Obama said. 

Obama Urges House To Support Jobs Bill

President Barack Obama urged House members Tuesday to support a $26 billion piece of legislation aimed at preventing thousands of teachers and government employees from losing their jobs.

“We can’t stand by while pink slips are given to the men and women that educate our children and keep our communities safe,” Obama said from the White House Rose Garden. 

Flanked by Education Secretary Arne Duncan and two teachers, the President stressed that the bill is deficit neutral, and that the costs would be offset by closing tax loopholes for industries that outsource jobs.

Obama also addressed Republican criticism, primarily the complaint that the bill panders to unions and liberal interests groups.

“I heard the Republican leader in the House say the other day that this is a special interests bill,” Obama said. “I suppose if America’s children and the safety of our communities are your special interests, then it is a special interest bill.”

The House is expected to vote on the bill by 2:30 pm Tuesday. House Speaker Nancy Pelosi (D-Calif.) suspended the lower-chamber’s August recess to take up the legislation.

House Gears Up For Jobs Vote

The House is set to vote Tuesday afternoon on legislation that the Democratic leadership claims will prevent thousands of teachers and other government employees from being laid-off.

The $26 billion bill narrowly passed in the Senate last Thursday, an outcome that prompted House Speaker Nancy Pelosi (D-Calif.) to suspend August recess in order to schedule a vote.

Republicans have criticized the legislation as a political move designed to appease special interests groups, but have also lambasted the decision to suspend the recess, arguing that Congress should instead be using the time off  to listen to their constituents.

A vote is expected by 2:30 pm. President Obama is scheduled to deliver a statement in the hours before urging the bill’s passage.