Obama to propose 'jolt' to economy, employment

Sep 9, 2011, 8:03 GMT

Washington - President Barack Obama will propose incentives for businesses to hire new workers as part of a jobs measure, according to speech excerpts that were released Thursday by the White House.

He was scheduled to speak at 7 pm (2300 GMT) Thursday to a joint session of Congress.

In the excerpts, Obama touted a tax break for companies that add workers, while cutting employment taxes by 3.1 percentage points for all workers and for small businesses.

'It will provide a jolt to an economy that has stalled and give companies confidence that if they invest and hire, there will be customers for their products and services,' Obama was slated to tell Congress. 'You should pass this jobs plan right away.'

He said his plan would be targeted to help construction workers, teachers, unemployed veterans and the long-term unemployed.

'The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working,' Obama was to say.

US unemployment remains 9.1 per cent.

'Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help,' Obama was to say. 'We can make a difference. There are steps we can take right now to improve people's lives.'