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Fox News alert I'm -- Kelly welcome everyone new questions coming in right now on the president's challenge to congress.
President Obama this morning standing up for the Rose Garden to act -- echo what -- that we heard last Thursday night.
This is the bill that congress needs to dance to let's pass this bill.
Pass this bill -- -- that my country back.
The president saying there is no time now for gains politics or delays.
Billion dollar jobs plan is going to congress later today.
And then the president is hitting the road to sell it to the public.
And the Democratic National Committee is backing him up with a big new ad campaign in some key battleground states.
Chief White House correspondent Ed Henry live at the white house with some breaking news now -- more.
About how the president plans on paying for this plan the details are starting will be filled in at.
That's -- thank -- we just got to be -- the last couple moments from -- -- the president's budget director and a pretty dramatic.
It's basically this White House is now coming out and saying flatly.
That they are going to be raising taxes on a whole slew of people all around the country in order to try and pay for this job build the biggest one of all.
If they say that they want to raise 400 billion dollars over ten years by limiting the types of itemized deductions that our viewers can get.
They will limit your itemized deductions if you're an individual making at least 200000 dollars a year if -- -- family making at least 250000.
I'll come back to that -- -- that's the biggest one but quickly if they're gonna wanna raise.
Eighteen billion dollars as well by changing the way.
I carried in come is treated this investment income they also want -- raise forty billion dollars by changing some oil and gas tax provisions.
And finally a pretty small some three billion dollars by changing what we've heard many times for.
Corporate jet depreciation but let's go back to the biggest one that's -- -- that affects our viewers the most.
This White House is now saying flatly that they want to change the way people can itemize deductions on their taxes what does that mean.
If you write off medical expenses if you write off state local taxes.
You write off mortgage interest charitable contributions there's going to be a lot of opposition to this plan.
Because this will affect people in major ways -- you know charitable organizations that depend on people.
Contributing money may see -- coming -- and if all the sudden.
The way people are tax in the way they write that off his change.
An important reality check here is I was covering this White House in early.
When they brought up these very same provision.
To change itemize their deductions.
And they were saying back then and early 09.
That this was the magic way to pay for healthcare -- it was gonna raise hundreds of billions of dollars -- early 2009 -- a democratic house.
Democratic senate and that idea was rejected it never went anywhere -- is pressing a Jack -- the budget director and take money about the fact that.
This could pass through a democratic house and senate I was gonna pass now of the Republican House and democratic senate they say look.
We've got to we've got some tough choices to make debate for the jobs bill to reduce the deficit elsewhere but the bottom line is they are gonna face a lot of heat now for coming out and saying.
That they're raising taxes and very interesting Ed Henry thank you so much.
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