Obama Jobs Plan to Target Schools, Tax Breaks
President Obama is finalizing a jobs package that could include a program to refurbish school buildings nationwide and tax breaks to encourage firms to hire workers.
The package, to be unveiled in early September, is Obama's chance to convince skeptical voters he can bring down the 9.1 percent unemployment rate and steer the United States away from another recession—ahead of next year's election.
Critics say the president, who bailed out the auto industry and spent $860 billion to revive the economy after he took office in 2009, has few jobs-boosting options and will have a hard time getting Republicans to accept any new spending plan.
But economists and advisers familiar with his strategy say Obama will argue next month that the financial crisis was worse than anyone thought at the time and say more stimulus is needed to make any real dent in the unemployment rate.
The details are still being discussed during the president's annual vacation in Martha's Vineyard, White House spokesman Josh Earnest said.
But the broad contours of the jobs package are quickly coming into focus.
The president is widely expected to repeat his calls for an extension of a payroll tax cut, push for patent reform and bilateral free trade deals, and suggest an infrastructure bank to upgrade the country's roads, airports and other facilities.
Posted: 05/19/2013 12:24:00
Posted: 05/17/2013 08:09:00
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