September 16, 2011
By Nada Shamah
President Barack Obama unveiled a plan in his speech on Sept. 8 to help boost the economy and bring more jobs to the country.
The only issue he faces is getting everyone on board to support the $450 billion plan, which calls on heavy tax cuts.
One idea that Obama has is to cut the Social Security tax for workers and employers from just over 4 percent to 3.1 percent.
He calls the plan the right thing to do and says he intends on taking that message across the country.
Obama addressed the issue of creating more jobs. There are currently more than 14 million Americans out of work, and the unemployment rate remains at 9.1 percent across the country.
Obama’s plan is to give businesses a 3.1 percent tax cut on their first $5 million in payroll.
If new workers are hired, or pay raises are given to current employees, business owners can see a larger benefit.
With payroll increases up to $50 million, businesses will not have to pay a Social Security tax, according to Obama.
He also suggested giving tax credits for businesses that hire people who have been out of work for six months or longer.
Cong. Dan Lipinski (D-3rd) issued a release hours before Obama’s speech hit the airwaves.
“America faces two major tasks,” Lipinski said. “Overcoming the current lack of confidence and demand to create jobs quickly, and charting a path to sustained, long-term economic growth in the global economy.”
Lipinski echoed Obama’s belief that both Democrats and Republicans need to work together on a solution for a better America.
“The federal government has a limited but critical role to play in education and innovation,” he said. “I strongly believe there are issues in which both parties should be able to work together to ignite job growth.”
Gov. Pat Quinn said he applauds the president’s plan to bring more jobs to the country.
“We in Illinois applaud President Obama’s vision for American innovation, infrastructure, fiscal responsibility and bipartisanship,” Quinn said. “We must invest in our small businesses and the sectors that are creating the jobs of today and tomorrow.”
But not everyone supports Obama’s plan.
“There were a lot of promises about what this plan would accomplish but very little about how,” said Cong. Judy Biggert (R-13th). “I look forward to reviewing the actual legislative text of the president’s proposal, but I’m disappointed that so much, especially how it will be paid for, falls under the column ‘to be determined,’”
Biggert says she believes that Obama is sensing the urgency of the matters he discussed in his speech.
“I hope that means he will come to Congress next week ready to negotiate with those on both sides to craft a plan that can pass, that won’t drive up the debt and will provide American businesses the stability they need to create jobs,” Biggert said.