State of the Union speech 2012: key quotes

Payroll tax

QuoteRight now, our most immediate priority is stopping a tax hike on 160
million working Americans while the recovery is still fragile. People cannot
afford losing $40 out of each paycheck this year. There are plenty of ways
to get this done. So let’s agree right here, right now: No side issues. No
drama. Pass the payroll tax cut without delay.

Construction

QuoteIn the next few weeks, I will sign an Executive Order clearing away the red
tape that slows down too many construction projects. But you need to fund
these projects. Take the money we’re no longer spending at war, use half of
it to pay down our debt, and use the rest to do some nation-building right
here at home.

Financial crimes

QuoteSome financial firms violate major anti-fraud laws because there’s no real
penalty for being a repeat offender. That’s bad for consumers, and it’s bad
for the vast majority of bankers and financial service professionals who do
the right thing. So pass legislation that makes the penalties for fraud
count.

Clean energy development

QuoteThere’s no reason why Congress shouldn’t at least set a clean energy
standard that creates a market for innovation. So far, you haven’t acted.
Well tonight, I will. I’m directing my administration to allow the
development of clean energy on enough public land to power 3 million homes.

Immigration

QuoteWe should be working on comprehensive immigration reform right now. But if
election-year politics keeps Congress from acting on a comprehensive plan,
let’s at least agree to stop expelling responsible young people who want to
staff our labs, start new businesses, and defend this country. Send me a law
that gives them the chance to earn their citizenship. I will sign it right
away.

Insider trading/Congress

QuoteSend me a bill that bans insider trading by members of Congress, and I will
sign it tomorrow. Let’s limit any elected official from owning stocks in
industries they impact. Let’s make sure people who bundle campaign
contributions for Congress can’t lobby Congress, and vice versa – an idea
that has bipartisan support, at least outside of Washington.

Iran

QuoteLet there be no doubt: America is determined to prevent Iran from getting a
nuclear weapon, and I will take no options off the table to achieve that
goal. But a peaceful resolution of this issue is still possible, and far
better, and if Iran changes course and meets its obligations, it can rejoin
the community of nations.

Afghanistan

QuoteFrom this position of strength, we’ve begun to wind down the war in
Afghanistan. Ten thousand of our troops have come home. Twenty-three
thousand more will leave by the end of this summer. This transition to
Afghan lead will continue, and we will build an enduring partnership with
Afghanistan, so that it is never again a source of attacks against America.

Government gridlock

QuoteWe should all want a smarter, more effective government. And while we may
not be able to bridge our biggest philosophical differences this year, we
can make real progress. With or without this Congress, I will keep taking
actions that help the economy grow. But I can do a whole lot more with your
help. Because when we act together, there is nothing the United States of
America can’t achieve.

Tuition

QuoteAt a time when Americans owe more in tuition debt than credit card debt,
this Congress needs to stop the interest rates on student loans from
doubling in July. Extend the tuition tax credit we started that saves
middle-class families thousands of dollars. And give more young people the
chance to earn their way through college by doubling the number of
work-study jobs in the next five years.

Tax Inequality

QuoteWe can either settle for a country where a shrinking number of people do
really well, while a growing number of Americans barely get by. Or we can
restore an economy where everyone gets a fair shot, everyone does their fair
share and everyone plays by the same set of rules.

Obstruction

QuoteThe state of our union is getting stronger. And we’ve come too far to turn
back now. As long as I’m president, I will work with anyone in this chamber
to build on this momentum. But I intend to fight obstruction with action and
I will oppose any effort to return to the very same policies that brought on
this economic crisis in the first place.

Auto industry turnaround

QuoteWe bet on American workers. We bet on American ingenuity. And tonight, the
American auto industry is back.

Manufacturing

QuoteWe have a huge opportunity, at this moment, to bring manufacturing back.
But we have to seize it. Tonight, my message to business leaders is simple:
Ask yourselves what you can do to bring jobs back to your country and your
country will do everything we can to help you succeed.

Tax Code

QuoteWe should start with our tax code. Right now, companies get tax breaks for
moving jobs and profits overseas. Meanwhile, companies that choose to stay
in America get hit with one of the highest tax rates in the world. It makes
no sense, and everyone knows it. So let’s change it.

Corporate taxes

QuoteNo American company should be able to avoid paying its fair share of taxes
by moving jobs and profits overseas. From now on, every multinational
company should have to pay a basic minimum tax. And every penny should go
towards lowering taxes for companies that choose to stay here and hire here.

Source: AP

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