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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-16-12 03:06 AM
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Obama to urge lawmakers on 'to do' list
Obama to urge lawmakers on 'to do' list

Published: May 16, 2012 at 3:30 AM

WASHINGTON, May 16 (UPI) --

<snip>

The meeting comes 12 days after the U.S. Labor Department said the nation's employers created jobs in April at less than half the pace jobs were being created when the year began. It also comes amid heightened White House concerns the European debt crisis could hurt Obama's re-election chances, The Wall Street Journal reported.

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The proposal would provide a 10 percent income-tax tax credit to companies that hire new workers or increase wages this year, and extend through this year a measure letting businesses write off the full cost of investments in equipment.

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Besides the income-tax credit and business write-off, Obama proposes a 20 percent tax credit for companies that move overseas operations back to the United States, with the revenue cost offset by eliminating deductions for companies' costs of relocating business abroad.

Also on the president's list is allowing more families who are current on their mortgages to refinance at lower interest rates and creating a Veterans Jobs Corps to help place veterans of Iraq and Afghanistan as police officers and firefighters or in other community-service jobs using skills the veterans developed in the military.

Another proposal would extend an energy-production tax credit and expand a credit for advanced clean-energy manufacturing, which Carney said would "create jobs by investing in affordable clean energy, an industry of the future that is vital to our economic growth going forward."

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Read more: http://www.upi.com/Top_News/US/2012/05/16/Obama-to-urge...


I hope the mortgage relief portion of these proposals is more functional than the mortgage relief passed when Democrats controlled Congress. Then again, what is the likelihood of that?
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