Tuesday, January 26, 2010

Obama Unveils New Initiatives To Boost Middle Class

(Washington, DC) -- President Obama is set to introduce new initiatives aimed at boosting financial security for the middle class.

He's expected today to outline his child care credit plan and a proposal that would require companies to offer workers retirement accounts.

Families making up to $85,000 a year would see their tax credit jump to 35-percent of qualifying child care expenses.

Obama will also introduce a measure that would ease the burden on student loans by capping payments at ten-percent of the borrower's income.

Families providing care for aging loved ones would see a boost in government support as well.

The announcement comes two days before Obama's State of the Union Address, where he's expected to talk about job creation, address the budget deficit and discuss changing the culture in Washington.


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