Obama urges GOP to support $447B jobs plan

WASHINGTON -- In a sharp challenge to the GOP, President Barack Obama on Monday proposed paying for his costly new jobs plan with tax hikes that Republicans have already rejected, and he accused them of political motives if they still refuse to go along.

"The only thing that's stopping it is politics," Obama said.

The president's proposal drew criticism from House Speaker John Boehner (R-Ohio), who'd previously responded in cautious but somewhat receptive tones to the $447-billion jobs plan made up of tax cuts and new spending Obama first proposed in an address to Congress on Thursday.

"It would be fair to say this tax increase on job creators is the kind of proposal both parties have opposed in the past. We remain eager to work together on ways to support job growth, but this proposal doesn't appear to have been offered in that bipartisan spirit," Boehner spokesman Brendan Buck said.

The biggest piece of the payment plan would raise about $400 billion by eliminating certain deductions, including on charitable contributions, that can be claimed by wealthy taxpayers. Obama has proposed that in the past -- to help pay for his health care overhaul, for example -- and it's been shot down by Republican lawmakers along with some Democrats.

Yet by daring Republicans anew to reject tax hikes on the rich, Obama could gain a talking point as the 2012 presidential campaign moves forward, if not a legislative victory.

At a Rose Garden event yesterday, Obama demanded immediate action on the legislation, which the White House sent to Capitol Hill yesterday afternoon.

"This is the bill that Congress needs to pass. No games. No politics. No delays," the president said.

His jobs package would combine tax cuts for workers and employers by reducing the Social Security payroll tax, with spending elements including more money to hire teachers, rebuild schools and pay unemployment benefits.

The payment method the White House announced would consist of:

$405 billion from limiting the itemized deductions for charitable contributions and other deductions that can be taken by individuals making more than $200,000 a year and families making more than $250,000.

$41 billion from closing loopholes for oil and gas companies.

$18 billion from requiring fund managers to pay higher taxes on certain income.

$3 billion from changing the tax treatment of corporate jets.