Driving the Day 9/7/2011
Sep 7, 2011
- President Obama is expected to propose $300 billion in tax cuts and federal spending tomorrow night. Two of the biggest measures for 2012 are expected to be a one-year extension of a payroll tax cut for workers and an extension of expiring jobless benefits. The White House is also considering a tax credit for businesses that hire the unemployed. President Obama has also called for public works projects and the continuation of a one-year tax break for businesses to allow them to deduct the full value of new equipment.
- In a letter to President Obama, Speaker Boehner and Majority Leader Cantor said they saw several areas where they believed they could work with the president to create jobs. These include giving states more discretion in spending federal money on transportation projects, speeding federal review of such projects and approving trade agreements negotiated with Colombia, Panama, and South Korea.
- Myron Brilliant had an op-ed appear in The Hill calling on Congress to reauthorize the Export-Import Bank by passing the Securing American Jobs Through Exports Act of 2011. Brilliant wrote, “Failure to reauthorize Ex-Im would amount to unilateral disarmament in the face of other nations’ vastly more aggressive trade finance programs.”