Yesterday, the President urged a joint session of Congress to pass his "American Jobs Act." The proposals have not been put into legislative form yet (Politico reports it might take one or two weeks), but this is the list of proposals so far as we know:
(1) Tax credits for small businesses that hire people.
(2) Funds and improvements targeted towards infrastructure and competitiveness to create opportunities for employment.
(3) Reforming the unemployment insurance system, building on a Georgia system Republicans have championed that brings people back to work.
(4) Cutting payroll tax in half, which "will provide a tax cut of $1,500 to the typical family earning $50,000 a year" (The White House).
(5) A detailed deficit reduction package to fully fund the American Jobs Act. It would ask wealthy Americans to share the sacrifice through tax policy. It would build on policies that have been circulating for months - reforming the tax code/closing tax loopholes, spending cuts, and reforms to entitlement programs such as Medicare and Social Security.