Chattanooga, Tenn. • President Barack Obama on Tuesday offered congressional Republicans a new corporate tax cut and jobs spending package he said might "help break through some of the political logjam in Washington," only to have GOP lawmakers immediately throw cold water on the idea.
The announcement and quick rejection underscored how elusive common ground is between the Democratic White House and Republicans in Congress on fiscal issues. The divide was particularly stark on the corporate tax proposal given that both parties generally have supported overhauling the code for businesses, though the White House and Republicans have differed on specifics.
Obama outlined his proposal in a speech at a massive Amazon.com plant in Chattanooga, his latest stop on a summertime campaign to refocus his agenda on the economy. He said "serious people" in both parties should accept his offer.