News / Economy

2015 US Budget Calls for Poor and Middle-Class Tax Breaks

President Barack Obama sits with Marcus Wesby and other preschool student during his visit to Powell Elementary School in the Petworth neighborhood of Washington, March 4, 2014.
President Barack Obama sits with Marcus Wesby and other preschool student during his visit to Powell Elementary School in the Petworth neighborhood of Washington, March 4, 2014.
VOA News
U.S. President Barack Obama is calling for new tax breaks for poor and middle-class Americans as part of his $3.9 trillion government spending proposal for 2015.

In unveiling the budget Tuesday, the president called for larger tax credits for families with young children, as well as expanded tax breaks for more than 13 million childless workers.

The president said his proposed 2015 spending plan is a reflection of his efforts to address income inequality, the wide disparity between the wealthiest and poorest Americans.

"Our budget is about choices.  It is about our values.  As a country we have got to make a decision if we are going to protect tax breaks for the wealthiest Americans or if we are going to make smart investments necessary to create jobs and grow our economy and expand opportunity for every American," said President Obama.

U.S. Budget - Fiscal Year 2015U.S. Budget - Fiscal Year 2015
x
U.S. Budget - Fiscal Year 2015
U.S. Budget - Fiscal Year 2015
In order to pay for his proposals, Obama proposed to eliminate several tax deductions that benefit wealthy Americans.

The spending proposals advanced by Obama, a Democrat, are likely to meet stiff opposition from Republican lawmakers in Congress.  They have often called for cuts in government spending and lower taxes.

The competing ideas will set the political agenda in Washington as the entire 435-member House of Representatives and a third of the 100-member Senate face re-election contests in November.

Obama also proposed to make permanent a tax credit for those paying college tuition, and create automatic retirement accounts for millions of workers without an employer-sponsored retirement plan.

The proposed budget also asks for $56 billion in new spending, split between the military and domestic programs.  He wants $300 billion over four years for infrastructure spending, partly to fix the country's crumbling bridges and roads.

You May Like

Video One Year After Thai Coup, No End in Sight for Military Rule

Since carrying out the May 22, 2014 coup, the general has retired from the military but is still firmly in charge More

Video Afghan Economy Sinks As Troops Depart

Afghans are grappling with how exodus will affect country's fragile economy More

Video Scientists Say We Need Softer Robots

Today’s robots are mostly hard, rigid machines, with sharp edges and forceful movements, but researchers at Carnegie Mellon University say they should be softer and therefore safer More

This forum has been closed.
Comment Sorting
Comments
     
by: germansmith from: Miami
March 04, 2014 9:17 PM
Here comes the man trying to buy another bunch of seats in Congress by giving somebody's else money away.

by: Martha from: Texas
March 04, 2014 10:40 AM
Poverty, there is no poverty in this country just lazy people
In Response

by: Long from: Washington
March 04, 2014 7:35 PM
Are u sure? How can you think they are lazy?

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Turkey's Main Opposition Party Hopes for Election Breakthroughi
X
May 22, 2015 10:23 AM
Turkey’s main opposition Republican People’s Party has sought an image change ahead of the June 7 general election. The move comes after suffering successive defeats at the hands of the Islamist-rooted AK Party, which has portrayed it as hostile to religion. Dorian Jones reports from the western city of Izmir.
Video

Video Turkey's Main Opposition Party Hopes for Election Breakthrough

Turkey’s main opposition Republican People’s Party has sought an image change ahead of the June 7 general election. The move comes after suffering successive defeats at the hands of the Islamist-rooted AK Party, which has portrayed it as hostile to religion. Dorian Jones reports from the western city of Izmir.
Video

Video Europe Follows US Lead in Tackling ‘Conflict Minerals’

Metals mined from conflict zones in places like the Democratic Republic of Congo are often sold by warlords to buy weapons. This week European lawmakers voted to force manufacturers to prove that their supply chains are not inadvertently fueling conflicts and human rights abuses. Henry Ridgwell reports from London.
Video

Video Class Tackles Questions of Race, Discrimination

Unrest in some U.S. cities is more than just a trending news item at Ladue Middle School in St. Louis, Missouri. As VOA’s Kane Farabaugh reports, it’s a focus of a multicultural studies class engaging students in wide-ranging discussions about racial tensions and police aggression.
Video

Video Mind-Controlled Prosthetics Are Getting Closer

Scientists and engineers are making substantial advances towards the ultimate goal in prosthetics – creation of limbs that can be controlled by the wearer’s mind. Thanks to sophisticated sensors capable of picking up the brain’s signals, an amputee in Iceland is literally bringing us one step closer to that goal. VOA’s George Putic reports.
Video

Video Afghan Economy Sinks As Foreign Troops Depart

As international troops prepare to leave Afghanistan, and many foreign aid groups follow, Afghans are grappling with how the exodus will affect the country's fragile economy. Ayesha Tanzeem reports from the Afghan capital, Kabul.
Video

Video Poverty, Ignorance Force Underage Girls Into Marriage

The recent marriage of a 17-year old Chechen girl to a local police chief who was 30 years older and already had a wife caused an outcry in Russia and beyond. The bride was reportedly forced to marry and her parents were intimidated into giving their consent. The union spotlighted yet again the plight of many underage girls in developing countries. Zlatica Hoke reports poverty, ignorance and fear are behind the practice, especially in Asia and Africa.
Video

Video South Korea Marks Gwangju Uprising Anniversary

South Korea this week marked the 35th anniversary of a protest that turned deadly. The Gwangju Uprising is credited with starting the country’s democratic revolution after it was violently quelled by South Korea’s former military rulers. But as Jason Strother reports, some observers worry that democracy has recently been eroded.
Video

Video California’s Water System Not Created To Handle Current Drought

The drought in California is moving into its fourth year. While the state's governor is mandating a reduction in urban water use, most of the water used in California is for agriculture. But both city dwellers and farmers are feeling the impact of the drought. Some experts say the state’s water system was not created to handle long periods of drought. Elizabeth Lee reports from Ventura County, an agricultural region just northwest of Los Angeles.
Video

Video How to Clone a Mammoth: The Science of De-Extinction

An international team of scientists has sequenced the complete genome of the woolly mammoth. Led by the Swedish Museum of Natural History in Stockholm, the work opens the door to recreate the huge herbivore, which last roamed the Earth 4,000 years ago. VOA’s Rosanne Skirble considers the science of de-extinction and its place on the planet
Video

Video Blind Boy Defines His Life with Music

Cole Moran was born blind. He also has cognitive delays and other birth defects. He has to learn everything by ear. Nevertheless, the 12-year-old has had an insatiable love for music since he was born. VOA’s June Soh introduces us to the young phenomenal harmonica player.

VOA Blogs

World Currencies

EUR
USD
0.8982
JPY
USD
121.07
GBP
USD
0.6376
CAD
USD
1.2215
INR
USD
63.612

Rates may not be current.