Tax Cuts, Infrastructure | featured news

President Obama this evening rolls out a plan to inject $447 billion into the ailing economy through tax cuts aimed at working families and small businesses and spending to rebuild infrastructure, proposing a larger cash infusion than expected – and, perhaps, more than Congress will seriously consider.

The Obama administration is considering a range of new measures to boost economic growth, including tax cuts and a new nationwide infrastructure program, according to people familiar with the discussions. On the list of possible actions: additional tax cuts for small businesses beyond those included in a $30 billion small-business lending bill before the Senate. It's not clear what those tax breaks would target or how much they might cost in lost revenue to the government.

President Barack Obama proposed on Tuesday small business tax cuts, fresh infrastructure spending and energy efficiency rebates to boost jobs, but there were few details on the scale or cost of the measures.