Saturday, December 3

Obama to unveil 300-billion-dollar jobs package

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WASHINGTON: US President Barack Obama is expected to announce a 300-billion-dollar plan on Thursday, including tax cuts and spending for 2012 to boost job creation and stimulate recovery, Xinhua News quoted US media as reporting late Tuesday.

The new plan, which will be unveiled in Obama’s address to Congress on Thursday night, will cover programmes such as tax incentives for businesses, investment in infrastructure, special assistance to dislocated workers and a continuation of payroll tax relief for middle-class workers.

At recent press conferences, White House spokesmen stressed that the president has put job creation at the top of his agenda.

US unemployment remained at 9.1 per cent more than two years after the recession’s official end in June 2009.

The jobless rate and the sluggish recovery from the worst recession since the Great Depression will be central issues as Obama runs for re-election next year.