Hoping to break an impasse with Republicans, President Barack Obama on Tuesday called for an overhaul of business taxes in exchange for a guarantee that a resulting one-time revenue gain be used to underwrite various job-creation proposals.
Mr. Obama laid out the proposal during a speech in Chattanooga, Tenn., part of a bid to win support from Republican lawmakers who have opposed White House requests for new spending on roads and bridges and other projects aimed at boosting employment. The White House laid out few details of the possible changes and didn't say how much revenue it hoped to raise.
President Obama spoke in Jacksonville, Fla., Thursday as part of a series of speeches about job creation and the economy.
The proposal is part of a renewed White House effort to jump-start its domestic agenda and focus attention on jobs and the economy. It also adds new fodder for talks between the White House and a set of Republican senators on fiscal matters that must be resolved in the next few months, among them funding levels for the federal government for the fiscal year beginning Oct. 1 and the terms for raising the nation's debt ceiling.
In Tuesday's speech, Mr. Obama aimed to entice Republican lawmakers to agree to jobs proposals he has long advocated in exchange for tax changes that are important to the GOP's allies among big
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