Obama to Pitch Trio of Economic Proposals

By: Associated Press
By: Associated Press
President Barack Obama is pitching a trio of economic proposals Wednesday in an effort to show the public he

The Associated Press
President Barack Obama delivers a televised address from the Oval Office of the White House in Washington on Tuesday. President Obama said the nation will continue to fight the oil spill in the Gulf of Mexico for “as long as it takes.”

WASHINGTON -- President Barack Obama is pitching a trio of economic proposals Wednesday in an effort to show the public he's taking action to spur economic growth.

During a trip to Cleveland, the president will outline a $50 billion infrastructure investment, a permanent expansion of research and development tax credits for companies and new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011.

The administration hopes the proposals will increase business and consumer confidence, while also giving Democrats a boost in the November elections. But each proposal would require congressional approval, which is highly uncertain given Washington's partisan atmosphere.

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