This morning we are getting a few more details as to what President Obama is expected to propose in his jobs speech tomorrow evening before Congress. Reports say the President will ask to inject more than $300 billion into the economy in federal spending and tax cuts, including a one-year extension of a payroll tax cut for workers, plus an extension of expiring unemployment benefits. Other spending proposals by the President will likely be for infrastructure projects and direct aid to state and local governments. The President is expected to call on Congress to offset the cost of the short-term jobs measures by raising tax revenue in later years as part of a long-term deficit reduction package.
This come as House Republican leaders are suggesting areas of potential agreement, ranging from changes in highway spending to new ways of helping the long-term unemployed. Speaker John Boehner and Majority Leader Eric Cantor requested a meeting with the President before his Thursday address to discuss ways to compromise. However, a spokesman for Boehner tells NBC News that there will not be an official Republican response to the President’s jobs address. Minority leader Nancy Pelosi responded to this in a statement, saying “The Republicans’ refusal to respond to the President’s proposal on jobs is not only disrespectful to him, but to the American people. In nearly 250 days of being in the Majority, House Republicans have not passed a single piece of legislation to create jobs. The Republican silence on Thursday evening will speak volumes about their lack of commitment to creating jobs.”