McConnell, voters react to Obama's jobs, debt reduction plan - wave3.com-Louisville News, Weather & Sports

McConnell, voters react to Obama's jobs, debt reduction plan

LOUISVILLE, KY (WAVE) - During his Sunday brunch in the Highlands, Ben Ogden wonders what this upcoming workweek will bring for his small business.

"It's a difficult business climate. Hopefully we can put some spending dollars back into hard-working Americans' pockets," he said.

This week President Obama took his economic recovery case on the road - urging Congress to pass a $447-billion-dollar economic recovery and jobs bill. On Monday, the White House will announce a new minimum tax rate for millionaires to help pay off the nation's deficit.

The President's plan will be presented to a special joint committee of Congress that's been given the job of recommending how

to reduce deficits by $1.2 trillion to $1.5 trillion over 10 years.

During Sunday's "Meet the Press," McConnell warned a tax increase won't get through his party or the other side of the aisle.

"There's bipartisan opposition to what the President is recommending already," Sen. Mitch McConnell said.

"That's not going to get the economy moving. We're dramatically over-regulating every aspect of the private sector and now we're threatening to raise taxes on top of it," Sen. McConnell said.

The plan Obama is expected to release would raise taxes on those making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as the middle-class.

McConnell says this latest tax increase echoes a bill defeated when democrats controlled congress.

"I would simply go back to what Mr. Obama said last December in signing the two-year extension of the current tax rates. It's a bad thing to do in the middle of an economic downturn," said Sen. McConnell.

It's a downward slope some voters feel will take time and cooperation to climb out of. "I don't think he's been given quite enough time to achieve what he wants to achieve," Ogden said.

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