A Look at Obama's New `Grand Bargain'

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July 30 (Bloomberg) -- Bloomberg's Yang Yang reports on President Barack Obama's jobs speech at an Amazon fulfillment center in Chattanooga, TN. Yang speaks on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

From bloomberg world headquarters in new york, i am part -- mark crumpton.

This is "bottom line." tonight, president obama talks jobs and corporate taxes in tennessee.

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To our viewers here in the united states and those of you joining us in the world, welcome.

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Let's begin with yang yang on president obama's visit to push his economic plan.

Good evening.

Good evening.

Today's case was the latest to turn attention back in the economy as the president headed -- congress speaking at a distribution center in tennessee.

President obama is should -- introduce a plan by separating it to any changes on the individual tax code.

Today, the president said these terms for a deal.

Class i am willing to work with republicans on forming our corporate tax code.

That is the deal.

We are now seeing president obama make a new push . in the past, he said corporate tax reform should be revenue neutral.

Today, he called for revenue positive and proposed ricci -- reaching that game through a one-time transition fee.

The funds would then go toward creating infrastructure and manufacturing jobs.

No specifics yet on exactly how much the white house is looking to raise.

On that, republicans were.

-- were quick to dismiss the plants.

Class what he said today really does not make much sense.

It flies off of what he, secretary geithner, senator schumer and others have said when they said they were for a revenue neutral tax cut.

It is exactly because of that kind of criticism that president obama seems to be shelving any hope for a bargain.

He is adopting a strategy . as you sought, republicans are not seeing it that way and there may not be much hope for this plan either.

That's eu.


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