GOP Balks at Obama Jobs Bill

The GOP is gathering in opposition to President Obama’s $447 billion jobs bill after the president proposed Monday that Congress fund the bill primarily by limiting tax deductions for wealthy families, with the remainder coming from an end to oil-and-gas-company subsidies and changes in depreciation rules for corporate airplanes. House Majority Leader Eric Cantor slammed the recommendation as a “massive tax increase,” while Speaker John Boehner’s spokesman said the bill “doesn’t appear to have been offered in that bipartisan spirit.” Republicans are likely to push to break up Obama’s plan into several parts and vote for each part individually.