With both the economy and his reelection hopes teetering, President Obama on Thursday proposed a $447 billion jobs bill that he and his aides said will immediately put people back to work.
More than half of the new jobs package consists of tax cuts designed to encourage small-business growth and hiring. The White House said it would put about $1,500 in the pockets of an average family by cutting the employee payroll tax in half in 2012.
“The people of this country work hard to meet their responsibilities,” Obama said in an address to a joint session of Congress in which he alternated between offering the GOP tax cuts and Democrats some red meat.
Read The Hill's coverage of the speech:
- Obama unveils $447B jobs bill
- Obama speech pushes back against GOP green rule rollbacks
- Obama calls on supercommittee to pay for jobs plan