From CNN's Carol Costello:
President Obama sent his jobs proposal to Congress yesterday, although it is unlikely that the bill will pass in its current form. While Republicans have said that they like parts of the plan, they don't like how the President wants to tax the rich to pay for many of the bill's provisions.
Although Obama has also presented other ideas for funding his jobs bill, like ending tax loopholes for oil and gas companies and letting the Bush tax cuts expire, the biggest chunk of of the financing, $400 billion dollars, will come from limiting tax deductions on Americans making more than $200,000 dollars a year.
AM Talk Back: Should Obama's jobs plan be funded by limiting tax deductions?
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