$100-Billion Jobs Package Presented to Congress

A $3.8-trillion federal budget President Obama submitted to Congress Monday includes a $100-billion jobs package. The funds will be spent on tax cuts for small business designed to spur investment along with investment in infrastructure and clean energy.

“It’s a budget that reflects the serious challenges facing the country,” Obama said Monday morning at the White House. “We’re at war. Our economy has lost 7 million jobs over the last two years. And our government is deeply in debt after what can only be described as a decade of profligacy.”

The budget will now go before Congress, where Republicans are expected to view it with a skeptical eye. Democrats are hoping the tax cuts for small business will help garner Republican support for the proposed budget.