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Obama Has 'To-Do' List For Congress

President Barack Obama on Tuesday will hand Congress a "to do" list that the White House said will create jobs and help restore the middle class.

The list includes new regulations to help families refinance their homes and tax changes designed to dissuade outsourcing. The list will be the focus of a presidential speech Obama is expected to give at a college science complex Tuesday in Albany, N.Y.

"These initiatives have bipartisan support and at this make-or-break moment for the middle class, we need to create an economy built to last," according to a White House statement. Obama has portrayed Congressional Republicans as obstructing his plans to speed up the economic recovery and put Americans back to work.

"I don't think Congress will act because the president says Congress must act," Jay Carney, the White House press secretary told the New York Times Monday. "I think the Congress will act because the people that sent them here are insisting that they act."

Each lawmaker, he continued, "has to explain to his or her constituents what they did while they were in Washington these last two years. Did they just say no? Did they just block every effort put forward to help the economy grow and create jobs? Or did they actually try to work constructively to get something done?" According to USA Today, the "to do" list from the White House includes:

-- Reward American Jobs, Eliminate Tax Incentives To Ship Jobs Overseas: Congress needs to attract and keep good jobs in the United States by passing legislation that gives companies a new 20 percent tax credit for the cost of moving their operations back to the U.S. and pay for it by eliminating tax incentives that allow companies to deduct the costs of moving their business abroad.

-- Cut Red Tape So Responsible Homeowners Can Refinance: Congress needs to pass legislation to cut red tape in the mortgage market so that responsible families who have been paying their mortgages on time can feel secure in their home by refinancing at today's lower rates.

-- Invest in a New Hire Tax Credit For Small Businesses: Congress needs to invest in small businesses and jump-start new hiring by passing legislation that gives a 10 percent income tax credit for firms that create new jobs or increase wages in 2012 and that extends 100 percent expensing in 2012 for all businesses.

-- Create Jobs By Investing In Affordable Clean Energy: Congress needs to help put America in control of its energy future by passing legislation that will extend the Production Tax Credit to support American jobs and manufacturing alongside an expansion of the 30 percent tax credit to investments in clean energy manufacturing. ...

-- Put Returning Veterans to Work Using Skills Developed in the Military: Congress needs to honor our commitment to returning veterans by passing legislation that creates a Veterans Job Corps to help Afghanistan and Iraq veterans get jobs as cops, firefighters, and serving their communities.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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