Obama appeals to Congress to pass American Jobs Act

AP Photo/Carolyn Kaster

President Obama on Thursday night will appeal to Congress to "stop the political circus" and help him get the economy moving again with a package of spending and tax cut initiatives expected to cost $447 billion.

"The people of this country work hard to meet their responsibilities," Mr. Obama will say before a joint session of Congress, according to his prepared remarks. "The question tonight is whether we'll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy."

Calling his economic package the "American Jobs Act," Mr. Obama plans to tell the legislature that Washington can't turn the economy around itself, but it can provide a boost to the private sector. The bill "will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services," Mr. Obama will say.

The president will tell Congress, "you should pass this jobs plan right away," arguing that his plan is fully comprised of ideas that have in the past gained bipartisan support. Furthermore, every idea in his bill will be paid for, he'll say.

CBS News has learned the package is expected to include an extension of the payroll tax cut set to expire at the end of the year. That change, which Republicans are opposed to, would cost about $120 billion. Mr. Obama is also expected to ask Congress for another extension of jobless benefits, at a cost of about $50 billion. The president will also call for a major school construction and infrastructure renovation project to the tune of $100 billion.

The president's plan is also anticipated to include requests for a payroll tax cut for employers, aid for state and local governments, a new-hire tax credit, job training for long-term unemployed, the creation of an "infrastructure bank," a mortgage refinancing initiative for homeowners and other ideas.

Republicans have indicated they are skeptical of the president's plan.

"We certainly intend to listen politely to the recommendations the president has, but I think I can pretty confidently say everybody in the Republican conference in the Senate thinks that we need to quit doing what we've been doing," Senate Republican Leader Mitch McConnell said Wednesday.

Still, House Majority Leader Eric Cantor this week identified some areas in which Republicans expect to be able to work with Democrats, including initiatives on infrastructure, unemployment insurance and trade bills.

House Democratic Leader Nancy Pelosi today sent a letter to House committee leaders, asking them to act on the president's proposals immediately. But given that Republicans control the House, it's unclear how fast they will act.

Mr. Obama will take his pitch for new stimulus on the road this week, starting with a visit to the University of Richmond on Friday. Next Tuesday, he'll travel to Columbus, Ohio.

[Question_All_Things]

On the surface President Obama's plan sounds good, but where is it?
The president says that he wants the congress to pass his bill immediately, and asks that the public pressure them to do so, but where is it? Why isn't the bill online for the public to read?
The president, like everyone else in Washington, actually works for the people who can get them reelected, not for those who elect them. Before I or anyone else signs on to this thing we should be given the opportunity to read it.

[beautifulwitch51]

Where is it? It's sitting on John Boehner's while Boehner and the GOPTP Congress hold American Jobs Hostage.

[markvick]

Why doesn't the author of this news article include a link to the bill that Obama talked about last night? Where is the bill? Unlike the bulk of Congress, I actually want to read it. I tried reading the Health Care bill, but have to admit that I gave up after a few pages - I have no idea what it actually means - too damn difficult to comprehand!

[davidcitizen]

YES!!! Finally, the debate is about CREATING JOBS for AMERICANS!!!
Tax incentives to CREATE JOBS AT HOME!!!
President Obama is right that having the wealthiest pay their fair share is supported by the wealthiest!!!
If the House Republicans can't get on board with SAVING THE MIDDLE CLASS, then they are truly hypocritical scum. I believe enough of them will see the light and PASS THE AMERICAN JOBS ACT!!!
GOD BLESS YOU, PRESIDENT OBAMA !!!!!!!!!!!!!!

[ruby2shus]

Why can't our representatives encourage all US citizens to buy products made in America? My family tries to do this. But it is hard to find anything but products from China. Even our toothbrushes are made in China. We need jobs; if we would all ask for American Products maybe people would start manufacturing here again. I am afraid the companies that have moved overseas will not come back. So, maybe we need to figure out how to make things again. Like shoes, clothes, toothbrushes, etc. Start small with a few people. Would this work?

[mcfergy]

In tonight's revival, President Obama was so insistent on "Passing the American Jobs Act," that I had visions of Ex-Speaker Ms. Nancy saying, "We need to pass it to find out what's in it."

The canned speech was a huge disappointment and disingenuous to 14 Million jobless Americans. President Obama couldn't care less, otherwise he wouldn't have spent every waking second of his first two-years on ObamaCare.

Obama needs to lose Auntie Valerie and hire someone that doesn't make him look so inept and foolish.

[campbellgrad]

pass it right away!!! Don't read it? Oh we have to pass it to find out whats in it. Like the take over of the college loan business and 7% tax on all homes sold. This will fix ya America HeHE HE says the beguiler in chief.

[krisd999-2009]

Just REPEAL permanently all payroll taxes. Have employers add the portion of approximatel 7% of wages to the employee's salary-it's their money- instant pay increase for all-call it the "Honest full paycheck Act"! Repeal the corporate 35% tax and the capital gains tax. Trillions of dollars sitting in foreign accounts will pour back into America, solving the real estate problem and creating jobs. Come on..even the commies in E.Europe knew enough to repeal taxes when their economies ground to a halt and there were no capital gains taxes because..duh..they couldn't acknowledge the existence of capital..

[kbbpll]

"quit doing what we've been doing," - Senate Republican Leader Mitch McConnell. And do what instead? Americans are sick of all this rock-throwing. You got some ideas Mitch?

[tsigili]

I don't think he will get it.

[RealiteBites]

2008: Hope and Change, and the promise of a 21st Century Economy

2011: Finger Pointing, and Infomercial 'Pass This Job' Salesmanship of Debt-Crisis inducing Repeated Stimulus

The more u spend the more u save! Call now!