To answer that crisis, Obama proposed what he called the American Jobs Act, which he said would cut payroll taxes in half for working Americans and most small businesses, and boost spending on public works, like roads, by $105 billion. The plan would make last year's cut in the individual Social Security tax rate, from 6.2 percent to 4.2 percent, permanent.
Obama calculated that the "typical working family" would get a $1,500 tax cut and that small companies with 50 employees would save $80,000, which he said would "provide a jolt to an economy that has stalled." READ FULL STORY
