Obama Jobs Plan More Than $300 Bln

Package said to include tax cuts, infrastructure spending and aid to state and local governments.

President Barack Obama plans to propose sparking job growth by injecting more than $300 billion into the economy next year, mostly through tax cuts, infrastructure spending and direct aid to state and local governments.

Obama will call on Congress to offset the cost of the short-term jobs measures by raising tax revenue in later years. This would be part of a long-term deficit reduction package, including spending and entitlement cuts as well as revenue increases, that he will present next week to the congressional panel charged with finding ways to reduce the nation’s debt.

About the Author

Albert R. Hunt

Albert R. Hunt

Albert R. Hunt is a columnist for Bloomberg View, the editorial arm of Bloomberg News. Hunt hosts the Sunday morning talk show Political Capital on Bloomberg Television.

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