Obama to lay out proposals, address economy in State of the Union
n his last State of the Union speech before the 2012 election, President Barack Obama will pitch a series of proposals and will address the topics of economic inequality and a government that should ensure “a fair shake for all.”
A Democratic source briefed on the latest draft of the speech said Obama’s proposals will include:
— Tax reform so that wealthy Americans pay more and the Bush tax cuts of 2001 and 2003 expire
— More refinancing for homeowners in trouble
— Additional tax breaks for companies that bring back jobs to the United States
— More clean energy incentives— Enhanced education and job-training initiatives, especially for high school graduates seeking technical degrees
— Establishment of the so-called “Buffett Rule” that would set a minimum tax rate for people earning more than $1 million.