WASHINGTON (MarketWatch)President Barack Obama on Thursday will press Congress to quickly pass his jobs plan to give a jolt to the stalled economy, according to excerpts of his remarks released by the White House. Obama will say the purpose of the plan is simply "to put more people back to work and more money in the pockets of those who are working."
He added there should be "nothing controversial" about his plan, and that "everything" in the bill will be paid for.
"You should pass this jobs plan right away," the president will urge legislators.
The proposal would also provide tax breaks for companies who hire new workers and cut payroll taxes in half for "every working American and every small business."
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WASHINGTON (MarketWatch) - President Barack Obama said Thursday that his administration would work with federal housing agencies to help people refinance at lower interest rates. With mortgage interest rates now near 4%, the step "would put more than $2,000 a year in a family's pocket, and give a lift to an economy still burdened by the drop in housing prices," Obama said in his speech to a joint session of Congress. Obama gave no more details on the proposal, which he said was not part of his jobs plan because it does not require Congressional action. The White House will need the Federal Housing Finance Agency, an independent regulator which oversees Fannie Mae and Freddie Mac, to implement the plan. That may be difficult, regulatory onlookers say, because FHFA's acting chief Edward DeMarco has sought to limit costs of the two firms to taxpayers and that such a program would likely hike taxpayer expenditures
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