(Image Source: ABC)

 

BY ZACH TOOMBS

 

You're watching multisource business news analysis from Newsy.

 

President Obama’s push to gather bipartisan support for his $447 billion jobs plan hit a new roadblock Tuesday, with Republican leaders voicing their opposition to one proposal that’s always proved poison to the GOP: tax increases.

 

MSNBC has Republican Senate Leader Mitch McConnell’s latest comments.

 

MITCH MCCONNELL: "The central tax hate included in this bill, capping deductions for individuals and small businesses was already dismissed by a filibuster-proof Democratic controlled Senate in 2009. So, claiming this bill is bipartisan may sound good if you’re out there on the campaign trail, but surely the president could come up with some proposals that both sides had not already suggested.”

 

Still, Congressional Republican leaders are emphasizing the need for compromise and cooperation with the president on his jobs proposal.

 

That includes House Speaker John Boehner and House Majority Leader Eric Cantor. CNN reports.

 

KATE BOLDUAN: “Now with details of the president’s plan in hand, House Republican leaders went out of their way to keep appearing cooperative.”

 

JOHN BOEHNER: “Hope springs eternal. Listen, I -- the president and Congress need to find common ground.”

 

ERIC CANTOR: “We need to work to peel off the things we can actually agree on.”

 

Mr. Obama’s jobs bill contains plenty of tax breaks meant to spur job growth, including breaks for small businesses and the middle class. But the money has to come from somewhere - namely by closing several tax loopholes for businesses and high-income Americans.

 

MSNBC.com spells it out, saying the bill would be paid for through:

 

"A limit on itemized deductions and exemptions for individuals who earn over $200,000 and families earning over $250,000, a tax increase that would raise about $400 billion over 10 years, according to Lew (and) scrapping various oil and gas tax provisions which raise $40 billion."

 

On Air Force One Tuesday, White House Press Secretary Jay Carney reiterated Mr. Obama’s desire to simply get things moving on the jobs bill, even if it means passing it in pieces.

 

"We believe that if Congress were to send a portion of the American Jobs Act, the President would, of course, not veto it.  He would sign it, and then he would return to press the Congress to get the rest of the job done -- because there is simply an urgent need in this country to grow the economy and put Americans back to work."

 

Transcript by Newsy.

Business News: GOP Rejects Jobs Bill

Jobs Bill's Tax Hikes Could Be Deal Breaker for GOP

September 14, 2011
(2:20)
Republican leaders are emphasizing an open-minded approach to the president's jobs proposal but are opposed to paying for the bill with tax increases
   
TRANSCRIPT

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