WASHINGTON (MNI) – The following are excerpts from the text of a
document unveiled by President Obama, “A Blueprint for an America Built
to Last,” as he delivers his State of the Union address Tuesday night:

I. Manufacturing: Create New Jobs Here In America, Discourage
Outsourcing, And Encourage

Insourcing

– Take away the deduction for outsourcing, make companies pay a
minimum tax for profits and jobs overseas, and reward companies for
bringing jobs back to America.

– Lower tax rates for companies that manufacture and create jobs in
the United States.

– Get tough on trade enforcement.

– Create more jobs and make us more competitive by rebuilding
America using half of the savings from ending foreign wars.

II. Skills: Give Hard-Working, Responsible Americans A Fair Shot

– Forge new partnerships between community colleges and businesses
to train and place 2 million skilled workers.

– Reform job training and Unemployment Insurance and create one
website that dislocated workers can use to help them get back to work.

– Attract, prepare, support, and reward great teachers to help
students learn.

– Call on every state to require that all students stay in high
school until they graduate or turn 18.

– Double work-study jobs and take steps to hold down college costs
for middle-class families.

– Build a 21st century immigration system and give responsible
young people a chance to earn their citizenship.

– Put veterans to work protecting our communities and preserving
our natural resources.

– Secure equal pay for equal work.

– Help start-ups and small businesses succeed and create jobs by
reforming regulations and expanding tax relief.

– Help spur innovation by investing in research and development.

III. Energy: Make The Most Of Americas Energy Resources

– Promote safe, responsible development of the near 100-year supply
of natural gas, supporting more than 600,000 jobs while ensuring public
health and safety.

– Incentivize manufacturers to make energy upgrades, saving $100
billion over the next decade.

– Create clean energy jobs in the United States.

IV. Values: Ensure Every American Plays By The Same Set Of Rules
And Pays Their Fair Share

– Make the tax code fairer and simpler for the middle class and
make sure millionaires and billionaires follow the Buffett Rule by
paying at least 30% in taxes.

– End subsidies for millionaires.

– Prevent tax increases for working families by extending the
payroll tax cut.

– Call on Congress to give every responsible homeowner the
opportunity to refinance.

– Make sure Wall Street plays by the same rules.

– Reduce the influence of money and lobbyists and do away with
procedures that stop Congress from working on behalf of the American
people.

– Pass a balanced, fair deficit reduction plan.

—

– Remove tax incentives to locate overseas through an international
minimum tax: The President is proposing to eliminate tax incentives to
ship jobs offshore by ensuring that all American companies pay a minimum
tax on their overseas profits, preventing other countries from
attracting American business through unusually low tax rates.

– Stop letting companies take a tax deduction for moving overseas
and instead provide a credit for moving jobs back home: The President
wants to eliminate the tax deduction companies receive for the cost of
shutting down factories and moving production overseas, and create a new
tax credit to cover moving expenses for companies that close production
overseas and bring jobs back to the United States. Lower tax rates for
companies that manufacture and create jobs in the United States:

– Create new incentives to increase manufacturing in the United
States: At the same time he proposes to close special-interest
loopholes, the President is proposing to ensure the next generation of
manufacturing jobs is created here in America by reducing tax rates for
manufacturers and doubling the tax deduction for high-tech
manufacturers.

– Support companies that make new investments in the communities
hardest hit by major job losses: The President is proposing a new tax
credit that provides support for companies seeking to finance new
factories, equipment, or production in communities that have been
hardest hit by a company choosing to relocate or a military base
shutting down. Get tough on trade enforcement: The President has worked
to ensure Americans can sell their products all over the world, and last
year he signed into law new trade agreements with Panama, Colombia, and
South Korea, helping to put the United States on track to reach the goal
of doubling exports by the end of 2014. But the President refuses to
stand by when our international competitors dont play by the rules. To
level the playing field by improving trade enforcement, the

President is announcing:

— A new trade enforcement unit: The President announced the
creation of a new trade enforcement unit that will bring together
resources and investigators from across the Federal Government to go
after unfair trade practices in countries around the world, including
China.

— Enhancing trade inspections: The President called for enhancing
trade inspections to stop counterfeit, pirated, or unsafe goods before
they enter the United States.

— Putting American companies on an even footing: When competitors
like China offer unfair export financing to help their companies win
business overseas, the United States will provide financing to put our
companies on an even footing.

Create jobs by using half of the savings from ending foreign wars
to rebuild America: To help ensure we have the infrastructure so that
companies can ship their goods more efficiently throughout the country
and the world, the President is calling for new efforts to revitalize
American infrastructure. The Presidents plan will protect taxpayer
dollars by fixing existing roads and by directing funding to the best
projects instead of earmarks, and will continue investments in highspeed
rail. To pay for these investments, the President is proposing to use
approximately half of the savings that we will achieve from winding down
wars in Iraq and Afghanistan over the 6 year period of the
infrastructure plan with the other half going towards paying down the
debt. The President also announced that within the coming weeks, he will
sign an Executive Order clearing the red tape that can slow down new
infrastructure projects, accelerating those projects that have already
been funded.

** Market News International Washington Bureau: 202-371-2121 **

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