The White House moved to put meat on the bones today of President Obama's effort to create new jobs for the middle class, rolling out a series of plans that include corporate tax reform, an increase in the minimum wage, investments in clean energy research, community colleges and increased spending for infrastructure projects.
"The bottom line is that the President will work with Republicans on a package to simplify our business tax code so long as it includes real investments to help restore middle class security, create jobs and grow the economy," read a release from the White House.
For reporters - there was one red flag about the White House plan - there was no cost estimate included in the four page document given out by the White House in terms of how much would be spent on infrastructure or how much the entire jobs plan would cost, except for a few specific ideas which were previously included in the President's budget.
As for the corporate tax reform changes, the White House says they would be revenue-neutral over the long term - but they clearly signal that the "pro-growth tax reform and jobs package...would be fully offset using one-time revenues raised as we transition to a new business tax system." It wasn't immediately apparent how those "one-time revenues" would be raised, or how much.
Both sides jockeyed for advantage quickly today, with Republicans labeling the plans too liberal, and the White House decrying "knee-jerk" reactions among GOP lawmakers.
But Republicans said it wasn't much of a "grand bargain" as advertised by the White House, because it doesn't include plans pushed by the GOP.
Much of what the President set out in Tennessee has been proposed before by the Obama Administration.
What follows is the fact sheet put out by the White House on the Obama plan:
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The White House moved to put meat on the bones today of President Obama's effort to create new jobs for the middle class, rolling out a series of plans that include corporate tax reform, an increase in the minimum wage, investments in clean energy research, community colleges and increased spending ...
