Obama on Jobs Act: “Pass this right away.”

President Obama urged Washington lawmakers to swiftly pass his administration’s expansive American Jobs Act tonight in a speech to Congress.

The 9.1% unemployment rate in August prompted the act, which will provide tax breaks in order to stimulate job creation. The Jobs Act will immediately provide tax breaks to average Americans, cut payroll taxes on businesses and extend unemployment insurance to millions who are out of work.

“The people who hired us don’t have the luxury of waiting 14 months,” said Obama.

The plan will eliminate taxes on increases of up to $50 million in payroll for businesses that hire new workers or raise current wages. Payroll taxes will also be cut in half on businesses’ first $5 million in payroll.

Obama sought bipartisan support for the Jobs Act, citing that about 50 Republicans from the House of Representatives have supported similar legislation in the past.

The Jobs Act includes an increase in taxes on the richest Americans, something Congressional Republicans have opposed.

“Some of you have taken oaths to never raise taxes on anybody as long as you live,” Obama said, “but don’t make an exception and raise taxes on the middle class.”

Under the proposed American Jobs Act, the typical working family will get a $1,500 tax break without impacting Social Security.

The plan will not add to the ever-growing deficit according to Obama. He urged that Congress, which already plans to cut $1 trillion in spending by Christmas, come up with enough deficit reduction to cover the cost of the bill.

The Jobs Act will also reform Medicare spending without effecting current recipients.

"We have to reform Medicare in order to strengthen it," said Obama.

Lawmakers can no longer reward businesses that can afford the best lobbyists, according to the President. They should instead reward businesses that create jobs.

“This is simple math,” said Obama. “These are real choices.”


Note: This assignment was meant to be written as if the Jobs Speech had just been given, hence the wording. Learn more about the American Jobs Act here.