President Barack Obama proposed a "grand bargain for middle-class jobs" on Tuesday that would cut the U.S. corporate tax rate and use billions of dollars in revenues generated by a business tax overhaul to fund projects aimed at creating jobs.
His goal, as outlined in a speech at an Amazon.com Inc facility in southeast Tennessee, is to break through congressional gridlock by trying to find a formula that satisfies both Republicans and Democrats.
Source: Reuters. Read full article. (link)