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Blog Category: Barack Obama

The American Jobs Act: Tax Relief for Every American Worker and Family

President Obama urges passage of American Jobs Act (White House news conference photo)

President Barack Obama continues to urge Congress to approve the American Jobs Act, introduced in September, which contains a focus on tax relief for American workers and their families.

The president's plan envisions putting more money in the pockets of every American worker and family:

  • Cutting Payroll Taxes in Half for 160 Million Workers Next Year: The President’s plan will expand the payroll tax cut passed last December by cutting workers payroll taxes in half next year. This provision will provide a tax cut of $1,500 to the typical family earning $50,000 a year. As with the payroll tax cut passed in December 2010, the American Jobs Act will specify that Social Security will still receive every dollar it would have gotten otherwise, through a transfer from the General Fund into the Social Security Trust Fund.
  • Helping More Americans Refinance Mortgages at Today’s Historically Low Interest Rates: The President has instructed his economic team to work with Fannie Mae and Freddie Mac, their regulator the FHFA, major lenders and industry leaders to remove the barriers that exist in the current refinancing program (HARP) to help more borrowers benefit from today’s historically low interest rates. This has the potential to not only help these borrowers, but their communities and the American taxpayer, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac.   White House news conference video   |   American Jobs Act Fact Sheet

President Obama’s American Jobs Act Is a Win for Workers and Employers

Image of President Obama and AJA logo

Last night President Obama explained his proposal for putting creating jobs now and putting Americans back to work before Congress. In addition to giving the economy a shot in the arm with more money in the pockets of working Americans, his proposed American Jobs Act has several new ideas, backed by both Democrats AND Republicans, which are a win for businesses and employers. The President is focused on rebuilding the economy the American way, through the ingenuity and hard work of the American people.

Businesses and employers stand to win under the President’s American Jobs Act in various ways.

It offers tax relief:

  • A payroll tax cut for 98 percent of small businesses
  • A complete payroll tax holiday for added workers or increased wages
  • Extending 100 percent capital expensing into 2012
  • Reforms and regulatory reductions to help entrepreneurs and small businesses access capital

Financial rewards for hiring workers:

  • A tax credit from $5,600-$9,600 for hiring of unemployed veterans
  • New contracts for modernizing public schools, homes and businesses
  • A bipartisan-supported National Infrastructure Bank which provides capital and contracts to upgrade and build vital roads, rails and airports.
  • A $4,000 tax credit for hiring long-term unemployed workers
  • Allowing workers to earn unemployment insurance if they choose to work share over layoffs.

Learn more about the benefits of the American Jobs Act.

Space Coast Task Force Delivers Economic Strategies Report to President Barack Obama

Secretary Locke and NASA Administrator Bolden provide blueprint for job creation and innovation to propel regional economy

Obama at NASA giving remarks; NASA photoThe President's Task Force on Space Industry Workforce and Economic Development, co-chaired by U.S. Commerce Secretary Gary Locke and NASA Administrator Charles F. Bolden, Jr., today released its report to the president with recommendations to enhance economic development strategies along Florida’s Space Coast. The Task Force was charged with developing a plan for how best to invest $40 million in transition assistance from the federal government in the Space Coast region as the Space Shuttle program winds down.

Locke, Bolden, Labor Secretary Hilda Solis, Transportation Secretary Ray LaHood, and several other senior administration officials have visited the region multiple times since the creation of the Task Force to meet with area workers and experts.

“Over the past few months, we have worked diligently with local government officials, economic development agencies, and affected corporations and employees to develop a comprehensive plan that will create high-skill, high-wage jobs and a strong economic base in the Space Coast,” Locke said. “Space is a key driver of the 21st century American economy and that’s why the president believes so strongly in empowering NASA to pursue new avenues of discovery.”  Release  |  Report  |  NASA Space Coast Task Force

Secretary Locke to Host White House Asian American and Pacific Islander Web Chat

Secretary Locke, AAPI Executive Director Kiran Ahuja and White House aide with laptop computer. Click for larger image. (Courtesy of the White House)

Image: White House video

U.S. Commerce Secretary Gary Locke hosted a live Web chat today to discuss important issues affecting the Asian American and Pacific Islander communities. Locke is co-chair of The White House Initiative on Asian Americans and Pacific Islanders and was joined by Executive Director Kiran Ahuja for the Web chat. President Barack Obama proclaimed May 2010, as Asian American and Pacific Islander Heritage Month. The video will be available on www.whitehouse.gov/video. (Presidential proclamation)

Secretary Locke Attends President's Economic Recovery Advisory Board (PERAB) Meeting, Livestream from White House Toda

White House meeting

Image: White House video

U.S. Secretary of Commerce Gary Locke will join Vice President Joe Biden, Export-Import Bank Chairman Fred Hochberg, White House officials and PERAB members at the exports-focused meeting hosted by President Barack Obama. The meeting will address a range of economic issues, including job creation, financial reform and the President’s proposal to double the number of exports over the next five years. (On-demand video)

Cities Across America Celebrate Census Day April 1 and Remind Residents to Mail Back Census Forms

Obama signing his form

White House photo

Communities nationwide are urging their residents to take 10 minutes today, April 1—Census Day—to fill out and mail back their 2010 Census forms if they haven’t already done so. As the official reference date for the once-a-decade civic ceremony, Census Day will serve as the point-in-time benchmark for the nation’s population count for the next 10 years. President Barack Obama recently signed and mailed in his Census form and today signed a presidential proclamation of Census Day. (More) (Census Day events—PDF) (Presidential proclamation)

President Obama Records Message Urging Participation in 2010 Census

2010 Census logo. Click to go to Web site.

Continuing a White House tradition of strong support for the census dating back to 1790, President Barack Obama recorded a public service announcement (PSA) encouraging national participation in the 2010 Census. The 30-second PSA released today by the U.S. Census Bureau asks every household to take 10 minutes to answer the 10 questions on the 2010 Census form and to mail it back. (More) (President’s PSA) (2010 Census Web site)

Administration's Budget Proposal Seeks Investments in Innovation, Clean Energy, Infrastructure and Job Creation

U.S. flag over entrance of Department of Commerce.

President Barack Obama today submitted to Congress an $8.9 billion FY 2011 budget request for the U.S. Commerce Department. The budget reflects priorities that will spur the growth of U.S. exports and the jobs that come with them, improve our scientific and technological capabilities and upgrade our capabilities for weather and climate observations and forecasting. (Press release)

Five U.S. Organizations Announced as Recipients of 2009 Baldrige National Quality Award

Image of Baldrige Award medal. Click to go to Web site.

President Barack Obama and Commerce Secretary Gary Locke announced that five organizations are the recipients of the 2009 Malcolm Baldrige National Quality Award, the nation’s highest Presidential honor for innovation and performance excellence. “The road to greatness in America has been, and always will be, traveled by those who embrace change and work hard every day to be the best; the organizations we honor today with the Baldrige National Quality Award exemplify that spirit,” President Obama said. Named after Malcolm Baldrige, the 26th Secretary of Commerce, the Baldrige Award was established by Congress in 1987 to enhance the competitiveness and performance of U.S. businesses. (More) (Program Web site)

Secretary Locke Statement on President Obama's Intent to Nominate Lamb-Hale as Assistant Secretary for Manufacturing and Services

ITA logo.

President Barack Obama announced his intent to nominate Nicole Y. Lamb-Hale to serve as Assistant Secretary of Commerce for Manufacturing and Services within the International Trade Administration. “Our manufacturers and service providers have an excellent advocate in Ms. Lamb-Hale,” said U.S. Commerce Secretary Gary Locke. “Nicole has firsthand knowledge of the challenges that our industries face and will be able to serve the interests of industry at every level.” (More)