US Republicans dismiss Obama's jobs plan

Top Republicans in Congress criticized today President Barack Obama's proposal to pay for a job creation plan by eliminating $467 billion in tax breaks for wealthier Americans and corporations.

Senate Republican leader Mitch McConnell blasted Obama's plan to pay for the jobs plan through "permanent" tax increases."What the president's proposed so far is not serious. And it's not a jobs plan," McConnell said in a speech on the Senate floor.

Speaker of the House of Representatives John Boehner, the top Republican in Congress, made similar comments to reporters. He complained that Obama is seeking "permanent tax increases ... to pay for temporary spending."

Obama's proposal faces tough going in Congress and at least parts of it could face defeat in the Republican-controlled House. Boehner said: "I just don't think that is really going to help our economy the way it should."

Eric Cantor, the No. 2 Republican in the House, also said Republicans would not back the tax increases Obama wants and suggested the issue may not be able to be resolved until after the 2012 elections.

"Maybe the issue of taxation, maybe some of these other issues, will have to be left for the election," Cantor said at a job creation forum.

The Republican leaders said Congress and the White House needed to look for a way to find common ground to get the economy moving and to create more jobs."The president knows raising taxes is the last thing you want to do to spur job creation," said McConnell.

Like Cantor, McConnell said Obama needed to put the proposal for tax hikes aside and consult with both parties to work on a plan "which actually has a chance of attracting bipartisan support."