Video: President Obama's American Jobs Act

On September 8, 2011, President Barack Obama asked Congress to act to provide jobs and spur the economy. Calling it an "urgent time for our country," the President asked Congress to "stop the political circus" and approve a nearly half-trillion-dollar plan to help the economy by cutting payroll taxes, raising taxes on the wealthy and rewarding companies that hire new workers.

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Excerpts of President Obama's American Jobs Act Speech
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Excerpts of President Obama's American Jobs Act Speech

President Obama is seeking to grow the economy and create employment through a combination of tax cuts, government incentives and reforms to entitlement programs. Obama's jobs plan is modeled on bipartisan initiatives that include transit projects that will help to build a 21st century transportation infrastructure. Specifically Obama called for faster trains, fuel-efficient cars and advanced biofuels. The President indicated that he will not forgo regulations that compromise the health, safety and security of the American people. The plan will help to build energy infrastructure such as power transmission, and it will support energy efficiency overhauls for public and commercial buildings. The President also called for improvements in water infrastructure and eliminating tax loopholes for oil companies. See excerpts of the Obama speech below: