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President to propose 'grand bargain' on jobs

President to propose 'grand bargain' on jobs
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POSTED: Tuesday, July 30, 2013 - 9:00am

UPDATED: Tuesday, July 30, 2013 - 9:04am

Speaking at an Amazon.com distribution plant in Tennessee Tuesday, President Barack Obama will propose a "grand bargain" with lawmakers on spurring job growth, according to one of his top advisers.

"As part of his efforts to focus Washington on the middle class, today in Tennessee the President will call on Washington to work on a grand bargain focused on middle class jobs by pairing reform of the business tax code with a significant investment in middle class jobs," said Dan Pfeiffer, a senior adviser to the president.

Obama will suggest Congress cut corporate tax rates - long a goal of Republicans - while simultaneously making jobs investments, which Democrats and the president have been championing.

The White House would not say Tuesday how much each part of the bargain - the tax changes and the investment - would amount to.

According to a source familiar with the plan, the offering is made in an attempt to break the gridlock currently plaguing the legislative process.

In the past, Obama has insisted that corporate tax reform be passed alongside reform for individual earners.

On Tuesday, he'll explain that he's open to changing only the corporate tax code, as long as it's combined with major investment in a program that creates high-paying middle class jobs, such as bolstering the country's manufacturing infrastructure or network of community colleges.

Obama's address in Chattanooga is the latest in a series of speeches the president will deliver on the economy and jobs, part of an attempt to turn back to the issue that rates as most important among Americans.

The tour began last week in Illinois, Missouri and Florida.

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