|
U.S. President Barack Obama, seeking to rescue a faltering economy and his own re-election prospects, began an uphill battle Friday to win Republican support for a US$447 billion jobs plan.
The proposals, weighted toward tax cuts for workers and businesses, was carefully crafted to appeal to middle-class voters who gravitate toward the political center.
A day after unveiling his ideas on Capitol Hill, Obama will pitch them directly to Americans during a visit to a Virginia university, kicking off a months-long campaign to promote the package across the country.
The White House sees the plan, a mix of payroll tax cuts and spending to upgrade roads, bridges and school buildings, as the best hope for reducing the 9.1 percent unemployment rate that threatens Obama’s presidency and addressing what he called a national crisis.
Early estimates suggested it could lift U.S. growth by 1 to 3 percentage points in 2012, lower the unemployment rate by at least half a percentage point and add well over 1 million jobs. Mark Zandi, chief economist at Moody’s Analytics and a former adviser to 2008 Republican presidential contender John McCain, said it could add 1.9 million jobs.
(SD-Agencies)
|