WASHINGTON, March 4 (Reuters) – President Barack Obama will
propose new tax credits and job-training programs for U.S.
workers on Tuesday in a 2015 budget that highlights a competing
vision with Republicans who favor a reduced government role in
promoting economic opportunity.
The proposed budget for the 2015 fiscal year that begins on
Oct. 1 would also create automatic retirement accounts known as
IRAs for some 13 million workers.
WASHINGTON (Reuters) – President Barack Obama will propose an expansion of popular tax credits for middle class and working poor Americans on Tuesday in a fiscal 2015 budget designed to serve as a blueprint for Democrats in this year’s congressional elections.
The budget, which would also create automatic retirement accounts known as IRAs for some 13 million workers, has little chance of getting enacted.
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.
The proposal to expand one of the most popular U.S. government poverty reduction programs, the Earned Income Tax Credit, would cost $60 billion, a modest amount in a budget in which the president has $1.014 trillion in spending to parcel out, the White House said.
WASHINGTON (Reuters) – President Barack Obama said on Monday that Russia has violated international law with its military intervention in Ukraine and warned that the U.S. government will look at a series of economic and diplomatic sanctions that would isolate Moscow.
Russian President Vladimir Putin needs to allow international monitors to mediate a deal in Ukraine acceptable to all Ukrainian people, Obama told reporters before he met with Israeli Prime Minister Benjamin Netanyahu.
WASHINGTON (Reuters) – It seems fitting that Gene Sperling, a White House economic aide with a taste for the theatrical, is heading to Hollywood when he ends his latest West Wing tenure this week.
Sperling is exiting stage left to cap a combined 12 years as an economic adviser to Democratic presidents Bill Clinton and Barack Obama, a remarkable show of stamina given the punishing hours and sharp elbows in Washington.
WASHINGTON (Reuters) – President Barack Obama will unveil a budget this week that seeks to boost spending on new initiatives such as road repairs, education programs and tax breaks for the working poor while avoiding an increase in U.S. deficits.
Obama has made reducing the gap between the rich and the poor a centerpiece of his agenda for his next three years in office. But he is limited in his ability to offer bold new initiatives because of a budget accord he reached in 2011 with House of Representatives Republicans that puts strict curbs on both domestic and military spending.
WASHINGTON (Reuters) – President Barack Obama warned Russia on Friday that military intervention in Ukraine would lead to “costs,” as tension with old foe President Vladimir Putin rose in a Cold War-style crisis.
“We are now deeply concerned by reports of military movements taken by the Russian Federation inside of Ukraine,” he told reporters.
WASHINGTON (Reuters) – President Barack Obama will announce two new manufacturing institutes aimed at attracting and nurturing businesses that will hire workers for highly paid jobs in the United States, a White House official said on Saturday.
One institute, to be located in Detroit, will focus on lightweight and modern metals. The other, in Chicago, will concentrate on digital manufacturing and design technologies, the official said.
WASHINGTON (Reuters) – The United States said on Saturday the dramatic ouster of Ukraine’s President Viktor Yanukovich and the release of opposition leader Yulia Tymoshenko could move the country away from violence toward a political settlement.
The White House said Washington was keen to see the country build a new government and hold early elections.
TOLUCA, Mexico (Reuters) – U.S. President Barack Obama and his Canadian and Mexican counterparts on Wednesday discussed ways to reduce any trade frictions at summit in central Mexico of the North American leaders dubbed the “Three Amigos.”
U.S. Commerce Secretary Penny Pritzker said earlier this month that the 20-year anniversary of the North American Free Trade Agreement (NAFTA) between the three nations was an appropriate moment to look at how to “upgrade” North American trade ties.