Thursday, November 23rd, 2017

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Obama Plans Speech on Jobs

President Obama is scheduled to speak Thursday at 7.President Barack Obama is set to speak on the state of the economy and a new plan to spur job creation Thursday night at 7.

Reuters notes that the speech comes at a time when Obama's popularity has dropped to record lows, even as the election season creeps ever closer. With that in mind, the speech includes a slate of tax cuts and support programs more extensive than anything presented so far in Congress.

While Republicans have proposed a broad array of tax cuts, President Obama is set to call for an extension of $112 billion payroll tax cuts, as well another round for reductions for businesses that hire unemployed workers.

As with the stimulus bill, the president's plan includes extensive spending on infrastructure, despite arguments that the impact of these projects is too slow.

Direct aid is likely to include money for states to prevent teacher layoffs, further extensions to unemployment aid, refinancing help for homeowners and a new training program for long-term unemployed people.

ABC News notes that Senator Mitch McConnell, a Republican from Kentucky, has called out the speech as little more than an re-election plan. Many Republicans have decided not to attend the speech specifically for these complaints.

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