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He proposes to offset the cost of that plan and reduce future budget deficits through higher taxes on the wealthy and on corporations after 2013, when the economy will presumably be healthier.
Because federal fuel taxes will not cover the cost, he proposes to offset about half the cost with savings projected over 10 years from ending the Iraq and Afghanistan wars.
He proposes to offset the cost of that plan and to reduce future budget deficits through higher taxes on the wealthy and on corporations after 2013, when the economy will presumably be healthier.
Romney proposes to offset his rate cuts and promises he won't add to the deficit".
The president's budget proposes to offset that spending with a combo of tax hikes and spending cuts elsewhere.
Similar(55)
The White House is proposing to offset the $50 billion by eliminating tax breaks and subsidies for the oil and gas industry.
Republicans have blocked much of the package because Mr. Obama and Congressional Democrats proposed to offset its cost with higher taxes on the wealthiest people.
On Wednesday Republicans proposed to offset the $121.2 billion cost by freezing pay for federal civilian workers through 2015 and cutting the federal work force by 10 percent.
And Congressional Republicans, after initially expressing openness to the jobs plan, turned sour when Mr. Obama on Monday proposed to offset its short-term costs with future tax increases on wealthy taxpayers.
Democrats have proposed to offset the cost of subsidizing the lower interest rate by closing a loophole allowing some wealthy taxpayers to avoid Social Security and Medicare payroll taxes by classifying their pay as dividends, not cash income.
Mr. Obama did not propose to offset the cost of any state aid with savings from other spending cuts or tax increases, as some conservative Democrats and Republicans have demanded.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com