Wednesday, September 7, 2011

President Obama to unveil jobs plan

President Barack Obama is expected to propose a $300 billion plan tomorrow night to jump start jobs and get Americans back to work, the AP reported Tuesday.

Republicans offered to compromise with him on jobs but attacked his plans (of course). Lawmakers began returning to the Capitol to tackle legislation on jobs and federal deficits. Also a bipartisan congressional committee is slated to hold its first public meeting Thursday as it strives for deficit cuts of $1.2 trillion or more over a decade. If there is no agreement, automatic spending cuts will take effect, a prospect both parties want to avoid.

Two of the biggest measures in the president's proposals for 2012 are a one-year extension of a payroll tax  cut for workers and an extension of expiring jobless benefits. Together, those two would total $170 billion. The unemployment rate for August was a disappointing 9.1 percent with no job growth.

Let's stay tuned for more on what's ahead as our president tries his best to turn things around!

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