Obama Lays Out His 2015 Agenda

Abstract

Some chemical industry executives are sharply criticizing President Barack Obama’s call during his State of the Union address on Jan. 20 for higher taxes on top earners, but they welcome his efforts to finalize two key trade agreements. Obama is proposing tax increases on the wealthy totaling $320 billion over the next decade to pay for expanded tax credits, educational benefits, and other programs for the middle class. But the “unfortunate reality is that the President’s proposal would ultimately increase an already heavy tax burden on our members,” says Lawrence D. Sloan, CEO of the Society of Chemical Manufacturers & Affiliates. Obama’s plan for tax hikes may be dead on arrival with Republicans, who control both houses of Congress. But Sloan says he is encouraged that Obama pressed Congress for trade promotion authority (TPA). The process is essential for wrapping up agreements the U.S. is negotiating with Asia and Europe ...