Just like your favorite rock group, except with less hysteria and partying, President Obama has taken the show on the road. After introducing the American Jobs Act last Thursday, Obama highlights his proposal at Fort Hayes Ares and Academic High School in Columbus, Ohio.
Watch Obama Live in Columbus, Ohio as he speaks at 2:15 PM EDT about the changes he hopes to bring about with the latest act.
Obama Live Stream: Fort Hayes Arts and Academic High School, Columbia, Ohio
Highlights of The American Jobs Act 2011
For those of you who missed the last time our President addressed the employment issues, here are some highlights:
- Small Business Tax Cuts: to help with growth and expansion. These cuts will include; cutting the payroll in half for 98% of businesses, adding workers or increasing pay will result in a payroll holiday, extension of expensing into 2012.
- Putting People Back to Work: by freezing the 280,000 teacher layoffs, instating a tax credit for hiring unemployed veterans, various projects putting people to work on rebuilding communities, homes and businesses.
- Cutting Taxes for Workers: These cuts will help put money back in the pockets of Americans.
The government website has a more detailed summary of what the plan entails. As with any such plan, there needs to be a lot of funding, Obama has accounted for this too.
According to the President, a separate committee will be set up to figure out the additional reductions needed to our deficit in order to be afford the American Jobs Act. The total plan is projected to cost $447 billion, but will raise almost the same amount over the next 10 year timespan.
Obama’s plea to Congress was received much better than most expected. The bill was sent to Congress yesterday evening and although it didn’t pass completely, Congress did say they would cover most of the costs through limitations on tax deductions for the wealthy.
The Presidents trip will not end today, you can catch him tomorrow speaking in North Carolina.