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

Philippines, Muslim Rebels Try to Salvage Peace Pact

Peace process faces major setback after botched military operation to find terrorists results in bloody gunbattle between government forces, Moro Islamic Liberation Front fighters More

Republicans Expect Long, Expensive Presidential Battle

Political strategist says eventual winner will be one who can put together strongest coalition of various conservative groups that make up Republican Party More

Video New Wheelchair Is Easier to Use, Increases Mobility

Engineers have come up with a lever-operated design that makes use of easily accessible bicycle technology 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.
Liberia's Almost Last Ebola Patient Grateful but Still Grievingi
X
Benno Muchler
March 26, 2015 3:41 PM
Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Liberia's Almost Last Ebola Patient Grateful but Still Grieving

Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Cambodian Land Grabs Threaten Traditional Communities

Indigenous communities in Cambodia's Ratanakiri province say the government’s economic land concession policy is taking away their land and traditional way of life, making many fear that their identity will soon be lost. Local authorities, though, have denied this is the case. VOA's Say Mony went to investigate and filed this report, narrated by Colin Lovett.
Video

Video US, South Korea Conduct Joint Military Exercises

The Eighth U.S. Army Division and the Eighth Republic of Korea Mechanized Infantry Division put on a well orchestrated show of force for the media this week during their joint military training exercises in South Korea. VOA’s Seoul correspondent Brian Padden was there and reports the soldiers were well disciplined both in conducting a complex live fire exercise and in staying on message with the press.
Video

Video Space Program Status Disappoints 'Last Man on the Moon'

One of the films that drew big crowds last week at the annual South by Southwest festival in Austin, Texas, tells the story of the last human being to stand on the moon, U.S. astronaut Eugene Cernan. It has been 42 years since Cernan returned from the moon and he laments that no one else has gone there since. VOA’s Greg Flakus reports.
Video

Video Young Filmmakers Shine Spotlight on Giving Back

A group of student filmmakers from across the United States joined President Barack Obama at the White House this month for the second annual White House Student Film Festival. Fifteen short films were officially selected from more than 1,500 entries by students aged 6 through 18. The filmmakers and their families then joined the president and a group of celebrities for a screening of their films. VOA’s Julie Taboh reports.
Video

Video VOA Exclusive: Interview with Afghan President Ashraf Ghani

Afghan President Ashraf Ghani, during his first visit as president to Washington, gave a one-on-one interview with VOA Afghan Service reporter Said Suleiman Ashna, about his request for a change in U.S. troop levels, the threat from the Islamic State, and repairing relations with the United States and Pakistan. The interview was held at Blair House, late Sunday, in Pashto.
Video

Video California Science Center Tells Story of Dead Sea Scrolls

The ancient manuscripts were uncovered in the mid-20th century, and they are still yielding clues about life and religious beliefs in ancient Israel. As VOA's Mike O'Sullivan reports, an exhibit in Los Angeles shows how modern science is bringing the history of these ancient documents to life.
Video

Video Angelina Jolie Takes Another Bold Step

Hollywood actress and filmmaker Angelina Jolie has revealed she had her ovaries and fallopian tubes removed to lower her odds of getting cancer. Doctors say the huge publicity over her decision will help raise awareness about the importance of cancer screening. VOA’s George Putic has more

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

World Currencies

EUR
USD
0.9211
JPY
USD
119.18
GBP
USD
0.6722
CAD
USD
1.2509
INR
USD
62.518

Rates may not be current.