Connect to share and comment

Obama to unveil election year budget

President Barack Obama will Tuesday propose a budget for the coming fiscal year that has less to do with managing US finances than with stemming Democratic losses in congressional elections. Senior White House officials say the document, to be previewed by Obama at a Washington elementary school, is largely aspirational, given that the president's top priorities are routinely blocked by Republicans in Congress.

Obama 2015 budget seeks $60 billion tax credit expansion: White House

By Mark Felsenthal and Jeff Mason WASHINGTON (Reuters) - President Barack Obama will strike a firmly populist tone in his 2015 budget plan on Tuesday, proposing to pay for an expansion of a popular tax credit for the working poor by eliminating tax breaks claimed by wealthy Americans.

Obama pitches plan to fix crumbling U.S. roads, bridges

By Roberta Rampton ST PAUL, Minnesota (Reuters) - President Barack Obama announced on Wednesday a four-year, $302 billion plan to repair the country's crumbling roads and bridges, but the proposal, which relies on tax reform for funding, is not expected to gain traction on Capitol Hill. Congress faces a September 30 deadline to renew federal funding for transportation programs, and the Highway Trust Fund that helps pay for road and bridge projects is teetering on insolvency.

Obama touts $300 billion transport plan

President Barack Obama on Wednesday unveiled a four year, $300 billion plan to rebuild America's highways, bridges and rail systems, hoping to defy gridlock in Congress to enact major reform. Obama's initiative marked his latest attempt to animate his second term, even though hopes of big political change are already dimming as Washington fixates on November's congressional elections. The plan would replace a current transportation funding bill which expires in September.

Obama to announce new manufacturing hubs for Chicago and location near Detroit

WASHINGTON - President Barack Obama is satisfying a year-old pledge by announcing the creation of two Pentagon-led institutes that will combine public and private resources to foster manufacturing innovation. One centre will be in Obama's hometown of Chicago; the other will be outside Detroit. The Canton, Michigan, institute will focus on light metal manufacturing. The one in Chicago will concentrate on high-tech digital manufacturing and design. Obama will announce the centres Tuesday at the White House.

Obama budget plan will drop his past offer to trim cost-of-living hikes in federal benefits

WASHINGTON - President Barack Obama will propose an election-year budget that would drop reductions he had previously embraced in federal benefits, officials disclosed Thursday. He also will ask Congress to approve about $56 billion in new or expanded programs, stepping back from aggressive efforts to tackle long-term government deficits and debt.

Obama admin. issues final rule imposing 90-day limit on waiting periods for employer coverage

WASHINGTON - Employers can't make new hires wait more than 90 days for coverage in the company's health care plan. The new limit is in government rules that carry out a section of President Barack Obama's health care Law. The Labor Department issued the rules Thursday. It could make a difference as the economy gets stronger and more jobs open up.

Obama budget offer to drop olive branch for Republicans

WASHINGTON (Reuters) - President Barack Obama's soon-to-be released budget proposal for the 2015 fiscal year drops a past offer to trim cost-of-living increases in Social Security, a White House official said on Thursday.

Biden indicates health care sign-ups may fall short of unofficial target of 7 million

MINNEAPOLIS - Vice-President Joe Biden said Wednesday that it would be a good start for the federal health care law if 5 million to 6 million people sign up by the end of March, an acknowledgement that enrollments might fall significantly short of the Obama administration's unofficial target of 7 million.

Budget agency defends wage report after White House criticism

By David Lawder WASHINGTON (Reuters) - The head of the Congress' budget agency on Wednesday defended its findings that President Barack Obama's proposed minimum wage increase would cause job losses, a day after the White House criticized the agency's methodology. White House officials have taken issue with the Congressional Budget Office's conclusion that raising the minimum wage to $10.10 per hour would lead to a loss of about half a million jobs by late 2016.
Syndicate content