The jobs program that President Barack Obama plans to unveil is estimated to come in somewhere around $447 Billion. The White House is planning on paying for the program by ending tax breaks for big-oil, hedge funds, and people that earn more than $250.000.
Republicans plan on putting up a fight as they claim it will hamper economic growth to end these tax breaks. White House press secretary Jay Carney said the new measures, "the president is campaigning — for growth and jobs".
President Obama plans to send the jobs plan to the US Congress and urged members to pass the package. The President said in a speech in the Rose Garden, "We´ve got to decide what our priorities are. Do we keep tax loopholes for oil companies, or do we put teachers back to work? Should we keep tax breaks for millionaires and billionaires, or should we invest in education and technology and infrastructure?"