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WASHINGTON D.C.-In the White House Rose Garden today, with Vice President Biden, and surrounded by teachers, vetrens, cops and firefighters, President Obama waved the blue-covered Job Act and announced, "Here it is, This is the bill that will put people back to work all across the country."
Keeping up the pressure on Congress, Obama told reporters at the garden that the $447 billion blueprint aimed at salvaging the economy was on its way to Congress and he wanted swift action by them. He said, “No games, no politics, no delays, I’m sending this bill to Congress today and they ought to pass it immediately.”
To off-set the proposed Jobs Act, Obama is also sending to Congress, a $467 billion package of savings. This savings proposal has in it limits on deductions for people earning over $200,000 a year, but is increased for families to $250,000. It also proposes removing tax breaks for oil and gas companies, and alters the way depreciation is calculated for aircraft.
In response, House Majority Leader Eric Cantor pointed out that Republicans are focused on items they support in the plan like the tax breaks and will oppose the administration’s request for new federal spending for infrastructure projects such as roads, bridges and schools. He told reporters, “I sure hope that the president is not suggesting that we pay for his proposals with a massive tax increase at the end of 2012 on the job creators that we’re actually counting on to reduce unemployment.”
House Speaker John Boehner (R-Ohio) said in response to President Obama’s Rose Garden speech, “While we have a different vision for what is needed to support job creation in our country, we appreciate the president’s pledge to transmit legislation to Congress and will immediately request that it be scored by the Congressional Budget Office. Once we receive CBO’s analysis, we can begin the important work of reviewing the various elements of his proposal. … The record of the economic proposals enacted during the last Congress necessitates careful examination of the president’s latest plan as well as consideration of alternative measures that may more effectively support private-sector job creation.”
Obama will be out on the road pushing his bill this week, and will be in Columbus, Ohio on Tuesday and Raleigh-Durham, North Carolina on Wednesday.