Obama Jobs Speech: Proposed $300B Package, Republicans Won’t Respond

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Jobs Speech
President Obama is expected to propose a $300 billion economic stimulus package Thursday night.

President Barack Obama is said to be planning to inject about $300 billion into the economy next year through tax cuts and infrastructure spending, and will present his plan in a speech later this week.

But Republicans won't show up for Obama's address or offer an official televised rebuttal, as they say the President's speech will sink or swim on its own.

House Speaker John Boehner's office confirmed Tuesday evening that no one from the party would deliver an official televised response, as reported by Fox News.

Boehner spokesman Mike Steel told Fox News that Obama's proposals on Thursday will rise or fall on their own merits, suggesting a GOP response wasn't needed.

Republicans are, and have been, entirely focused on job creation, Steel said. Every member of Congress, and ?- more importantly -? the American people will provide a reaction to the president's address.

The Republican's decision to opt out of a rebuttal didn't sit well with House Democratic Leader Nancy Pelosi who felt it was disrespect to the White House.

She said the GOP's silence speaks volumes about their lack of commitment to creating jobs.

America's unemployment rate now stands at 9.1 percent and in a Labor Day speech in Detroit, Mich., Obama said he intends to spend to rebuild America's infrastructure and boost hiring. More than a million construction workers are unemployed and Obama intends to put them back to work, rebuilding roads, bridges and other surface transportation projects.

Obama has said he plans to work with Republicans to rebuild America and on Thursday, will propose ways that both Democrats and Republicans can agree to.

I still believe both parties can work together to solve our problems, Obama said. And given the urgency of this moment, given the hardship that many people are facing, folks have got to get together.

People familiar with the White House plan, told The Associated Press on Wednesday that the bulk of Obama's proposal is expected to be a one-year extension of a payroll tax reduction for employers and an extension of jobless benefits, totaling about $170 billion.

The administration is also reportedly looking to propose a business tax credit for unemployed workers, according to a Bloomberg report.

Between 100,000 and 125,000 jobs per month need to be created in order to prevent the unemployment rate from rising and the recovery has so far averaged a 144,000-job gain per month.

There are also plans to offer direct aid to local governments that would focus on stopping layoffs of teachers and first responders.

 

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