Obama to return to North Carolina

RALEIGH

Obama toured WestStar Precision in Apex on Sept. 14, before giving a speech at North Carolina State University to promote his $447 billion jobs plan.

The White House announced Wednesday that the President will be returning to the state as part of an Oct. 17-19 bus tour to urge the passage of the legislation.

Stops along the tour have not yet been announced.

The President said he would cover most of the cost of his jobs initiatives, by limiting the itemized deductions wealthier people can take.

He said he would get $40 billion by closing tax loopholes for oil and gas companies, $18 billion from imposing higher taxes on certain income from investment fund managers and $3 billion from changing how the tax code treats corporate jets.

Obama has run those ideas by Congress in the past and has gotten nowhere.

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