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Obama To Talk Taxes, Trade Deals In State Of Union Speech - Yahoo News

January 21, 2015

Obama to Tell Congress Lifting Cuba Embargo Is the Right Thing to Do - Yahoo News

Dick Durbin, D-Ill., one of six congressional delegates who came to Cuba this week, said, site internet We are moving to a new era. It is a dramatic development and its more than opening trade and travel between the United States and Cuba; its the question of opening up a relationship and the exchange of ideas. Any of us believe that ideas are compelling, compelling when they come to basic human values and human rights . Opening up Cuba and opening up a relationship with the united states gives us a chance to move forward in this hemisphere, he added. Leahy and Durbin - along with Sen Debbie Stabenow , D-Mich., Sen.

Obama's 'real' SOTU goal: Embarrass the Republicans - Yahoo News

Obama is expected to push a plan to increase taxes by $320 billion over 10 years on the wealthy by closing tax loopholes. The White House said the proposed fee on the biggest financial companies would make it more costly for them to borrow heavily. Read More Obama to focus on middle class in State of the Union "There's an awful lot of your viewers that over and over again said, 'If we'd only done Bowles-Simpson look at the shape we'd be in.' Bowles-Simpson proposed exactly these rates, exactly this structure on capital gains," Furman said. Democrat Erskine Bowles and Republican Alan Simpson unveiled a plan in late 2010 to cut the nation's ballooning budget deficit. It was never was implemented but often praised on both sides of the aisle. "The bank tax, [Republican] former Ways and Means chairman Dave Camp, he proposed a very similar tax on banks," Furman said.

Obama's speech strategy: Put GOP on the back foot on taxes

Even as more people feel the benefits of a resurgent economy, there's still a persistent sense among Americans that it's not improving fast enough. The Washington Post/ABC poll out Monday showed 56% of Americans felt the country was on the wrong track - an improvement from the 70% who felt that way in 2013, but still reflective of a majority who aren't seeing much to crow about in the economic recovery. That gloom is part of the reason Democrats fared so poorly in November's midterm elections - and why Obama's address on Tuesday will be delivered to the first GOP-majority Congress of Obama's presidency. The White House hopes that with improving approval poll numbers will come more unity among Democrats around Obama's agenda, which aides say can be reduced to three words: middle class economics. Obama tax plan: Cuts and hikes "It's important for us to find every single way that we can to provide some relief for middle class families because as the economy finally after six years gets to the point where people are beginning to feel it, we need to make sure we lean in so that folks have a little bit more money at the end of the week," said David Simas, the director of Obama's political office. That means proposing new tax breaks for married couples where each partner works, increasing the child care tax credit and offering two years of community college free to qualified applicants.

Obama heads into State of the Union on ratings uptick -

Looking to burnish his legacy with two years left in office, Obama's speech will be his best opportunity of the year to command the attention of millions of Americans watching on television. The speech will also allow Obama to update Americans on the threat of Islamic extremists, two weeks after 17 people were killed in attacks in France. Republicans and others criticized the White House for not sending a top American official to a unity march in Paris, where other countries sent their leaders and other high-ranking officials to walk arm-in-arm with French President Francois Hollande. Obama's Chief of Staff Denis McDonough accepted blame for the uproar on Tuesday. "We regret we didn't send someone more senior than our ambassador, that rests on me. That's my job," he said, speaking on NBC's "Today" program.

Obama aide: Our 'strong logic' for rich tax hikes

And I think you even further diminish the chances of getting anything done in the next two years. It's not just about what the President will say tonight that will hamper Congress in 2015 and 2016. Valliere points to "divisions within both parties." The GOP is dealing with the Tea Party hardline. There are differences among Democrats as well, says Valliere, as House Minority Leader Nancy Pelosi and Senate Minority Leader Harry Reid have spoken out against a free trade deal that President Obama supports. Get the Latest Market Data and News with the Yahoo Finance App Of course, there is always a chance for some reaching-across-the-aisle rhetoric tonight. Valliere says the President may make a push for the "war on terror," for example, or cater to Republicans by discussing free trade. But don't expect that to extend very far - especially not to the realm of taxes. And that's not a good thing, as far as Valliere is concerned: This proposal from the President is so blatantly partisan. Its going to hurt him and his abilities to get anything through Congress. Perhaps it is a good thing, then, for the President that he goes into the State of the Union riding momentum after a new poll showing his first approval rating uptick in years. According to a Washington Post/ABC News poll, 50 percent say they approve of the job Obama is doing as commander-in-chief.

There remains an outside shot that the two parties could agree on some form of corporate tax reform in 2015. But it will be hard for Republicans to push an overall cut in the top rate of 35 percent without adding elements that would benefit working families, particularly if Obama continues to gain ground politically with his latest populist push. Read More Progressive Democrats and the 2016 conundrum If Republicans decide they need to cut a deal, some of what Obama proposes Tuesday night could find its way into a tax reform package. The odds are long but it's not impossible. If they don't look to make deals, Republicans could instead wind up spending their time beating back popular Obama proposals like the bank taxwhich appeared in a previous bipartisan tax reform planand the capital gains increase without having a robust agenda of their own.

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