President Barack Obama just made his case for “an American Jobs Act” in a speech to both chambers of Congress. In the usual Obama style, he offered Republicans a lot of compromises, like corporate tax cuts and a tax credit for employers. He argued for a payroll tax cut as well and called on Democrats to support “modest adjustments” to Medicare and Medicaid as well. On the spending side, Obama is seeking more funding for infrastructure, such as repairing roads and bridges and fixing “at least 35,000 schools.”
The full transcript of the president’s speech (as prepared) is after the jump. I’ve also posted some Iowa reaction, and I’ll keep this post updated as other members of Congress weigh in.
Continue Reading...