(NECN: Washington) - President Barack Obama this afternoon offered help for people struggling to pay bills and care for their families, appealing to a middle class he says has been "under assault for a long time."
In a partial preview of a State of the Union address that aims
to answer voter angst about the economy and reconnect with the
public, Obama outlined the series of proposals from the White
House. The product of a middle class task force headed by Vice
President Joe Biden, the proposals will also be included in Obama's
budget request due to be submitted to Congress next week.
Among the initiatives: a doubling of the child care tax credit
for families earning under $85,000; a $1.6 billion increase in
federal funding for child care programs and a program to cap
student loan payments at 10 percent of income above "a basic
living allowance."
His initiatives also include expanding tax credits to match
retirement savings and increasing aid for families taking care of
elderly relatives. That program would also require many employers
to provide the option of a workplace-based retirement savings plan.
"These steps have saved or created about two million jobs so far, but more than seven million have been lost as a consequence of this recession," said Obama.
"Creating good, sustainable jobs is the single most important thing we can do to rebuild the middle class, and I won't rest until we're doing just that," said Obama.
Local
*Material from The Associated Press used in this report*
