Obama to unveil growth plan in speech

President Barack Obama next month will unveil a new jobs and economic growth plan and a detailed deficit-cutting package surpassing the mandate of the “super committee” in Congress, officials said on Wednesday.

Obama’s deficit-cutting ideas will be included in a major speech on job growth planned for early September. The jobs plan has not been finalized but may include measures including tax cuts, infrastructure investment, help for the long-term unemployed and support for specific sectors of the economy in particular need, administration officials said.

The officials said job creation measures may also be part of the final package that comes from the super committee, charged with identifying $1.2 trillion in extra budget savings as part of a deal to raise the debt ceiling.

The president said on Monday that he would put forward an economic growth plan to address jobs and the deficit when Congress returns from its summer recess. But at the time, he disclosed no details of what the package might contain.

The White House has been scrambling to come up with new ideas to boost the economy, and specifically to create jobs, the No. 1 issue for Americans. Up to now, Obama has been criticized for repeating proposals that have begun to sound stale, including payroll tax cuts and extending unemployment benefits.

WASHINGTON (Reuters) – (Reporting by Laura MacInnis, Alister Bull and David Morgan; Editing by Eric Beech)


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