Obama Proposes "Grand Bargain" to Cut Corporate Taxes in Exchange For More Infrastructure Spending

President Barack Obama proposed a "grand bargain for middle-class jobs" on Tuesday that would cut the U.S. corporate tax rate and use billions of dollars in revenues generated by a business tax overhaul to fund projects aimed at creating jobs.

His goal, as outlined in a speech at an Amazon.com Inc facility in southeast Tennessee, is to break through congressional gridlock by trying to find a formula that satisfies both Republicans and Democrats.

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