It’s the GOP attack of the day: Obama has deja vu! He’s saying he’ll unveil a jobs plan in September, just like he did in August 2010! Here’s the RNC’s proof:
They’ve got him nailed, except for one thing: Obama did roll out a jobs plan in September 2010. You forgot about it because Democrats, in the same pre-election panic that convinced them that not passing a budget or voting on Bush tax cuts would make them harder to attack at the polls, never voted on it. Still don’t remember? Fine: It was a large package that mostly consisted of tax cuts.
President Obama on Wednesday will introduce a new $200 billion tax cut giving businesses across the country an incentive to buy new equipment in the short term, according to a senior administration official.
The tax cut would allow businesses to write off 100% of new investments in plants and equipment made between now and the end of 2011, according to the senior administration official.
The new tax cut will be in addition to a $100 billion permanent extension of the business tax credit for research and development, as well as $50 billion in new infrastructure spending included in a package that the president will officially unveil Wednesday during an economic speech in Cleveland.
Never got anywhere. Meanwhile, as Republicans make fun of Obama’s pivots, Eric Cantor’s memo on their agenda next week mentions two tax ideas: killing the not-yet-active withholding on payments to government contractors, and a 20 percent tax deduction for small businesses. News flash: Nobody knows how to use the tools available to government to create jobs right now, and Republicans will oppose whatever Barack Obama puts out there.