Boehner Rolls Out GOP Jobs Plan

In a speech he’ll deliver this afternoon at the Economic Club of Washington, D.C., House Speaker John Boehner (R-Ohio) will signal his party’s intentions to take up tax reform this Fall.

Boehner will also say that the House will consider several proposals within President Obama’s $447 billion job creation package, but will not accept a plan that is paid for in part by raising taxes.

Earlier this week, Obama called for limiting itemized deductions for taxpayers making more than $200,000 per year. Doing so, he said, would generate nearly $400 billion over the next decade. He added that another $4 billion in savings would come from ending subsidies for the oil and gas industry.

Many Republicans will likely support the president’s idea to extend payroll tax cuts for employees and to provide tax credits to businesses that hire veterans or long-term unemployed Americans. But a lot of rank-and-file Republicans, including most of those who align with the conservative-leaning Tea Party movement, will pressure leaders to oppose tax hikes at all costs.

You can watch a live stream of Boehner’s speech by logging onto Facebook and “Liking” his official Speaker’s office page. The speech begins at 1:00 pm.