Obama's budget message read in House chamber

The House reading clerk on Tuesday afternoon read President Obama's entire message to the Congress that accompanies his FY 2013 budget proposal.

Obama's message summarizes his budget priorities, among which is a minimum tax for the wealthy and plans to let the Bush tax cuts expire.

"These policies were unfair and unaffordable when they were passed, and they remain so today. I will push for their expiration in the coming year," Obama said in his letter to Congress.

"I also propose to eliminate special tax breaks for oil and gas companies; preferred treatment for the purchase of corporate jets; tax rules that give a larger percentage deduction to the wealthiest two percent than to middle-class families for itemized deductions; and a loophole that allows some of the wealthiest money managers in the country to pay only 15 percent tax on the millions of dollars they earn."

The House adjourned shortly after reading Obama's budget message, and will return at about 4:45 p.m. to debate three bills naming post offices.