There are private construction companies all across America just waiting to get to work.  There’s a bridge that needs repair between Ohio and Kentucky that’s on one of the busiest trucking routes in North America.  A public transit¹ project in Houston that will help clear up one of the worst areas of traffic in the country.  And there are schools throughout this country that desperately² need renovating³.  How can we expect our kids to do their best in places that are literally⁴ falling apart?  This is America.  Every child deserves a great school -- and we can give it to them, if we act now.  (Applause.) 

The American Jobs Act will repair and modernize⁵ at least 35,000 schools.  It will put people to work right now fixing roofs and windows, installing science labs and high-speed Internet in classrooms all across this country.  It will rehabilitate⁶（复兴） homes and businesses in communities hit hardest by foreclosures（取消抵押品赎回权） .  It will jumpstart thousands of transportation projects all across the country.  And to make sure the money is properly spent, we’re building on reforms we’ve already put in place.  No more earmarks（专项拨款） .  No more boondoggles.  No more bridges to nowhere.  We’re cutting the red tape that prevents some of these projects from getting started as quickly as possible.  And we’ll set up an independent fund to attract private dollars and issue loans based on two criteria:  how badly a construction project is needed and how much good it will do for the economy.  (Applause.)

This idea came from a bill written by a Texas Republican and a Massachusetts Democrat⁷.  The idea for a big boost in construction is supported by America’s largest business organization and America’s largest labor⁸ organization.  It’s the kind of proposal that’s been supported in the past by Democrats⁹ and Republicans alike.  You should pass it right away.  (Applause.)

Pass this jobs bill, and thousands of teachers in every state will go back to work.  These are the men and women charged with preparing our children for a world where the competition has never been tougher.  But while they’re adding teachers in places like South Korea, we’re laying them off in droves.  It’s unfair to our kids.  It undermines their future and ours.  And it has to stop.  Pass this bill, and put our teachers back in the classroom where they belong.  (Applause.)

Pass this jobs bill, and companies will get extra tax credits if they hire America’s veterans.  We ask these men and women to leave their careers, leave their families, risk their lives to fight for our country.  The last thing they should have to do is fight for a job when they come home.  (Applause.)

Pass this bill, and hundreds of thousands of disadvantaged young people will have the hope and the dignity of a summer job next year.  And their parents -- (applause) -- their parents, low-income Americans who desperately want to work, will have more ladders out of poverty.

Pass this jobs bill, and companies will get a $4,000 tax credit if they hire anyone who has spent more than six months looking for a job.  (Applause.)  We have to do more to help the long-term unemployed¹⁰ in their search for work.  This jobs plan builds on a program in Georgia that several Republican leaders have highlighted, where people who collect unemployment insurance participate in temporary work as a way to build their skills while they look for a permanent job.  The plan also extends unemployment insurance for another year.  (Applause.)  If the millions of unemployed Americans stopped getting this insurance, and stopped using that money for basic necessities, it would be a devastating¹¹ blow to this economy.  Democrats and Republicans in this chamber¹² have supported unemployment insurance plenty of times in the past.  And in this time of prolonged hardship, you should pass it again -- right away.  (Applause.)

Pass this jobs bill, and the typical working family will get a $1,500 tax cut next year.  Fifteen hundred dollars that would have been taken out of your pocket will go into your pocket.  This expands on the tax cut that Democrats and Republicans already passed for this year.  If we allow that tax cut to expire -- if we refuse to act -- middle-class families will get hit with a tax increase at the worst possible time.  We can’t let that happen.  I know that some of you have sworn oaths to never raise any taxes on anyone for as long as you live.  Now is not the time to carve out an exception and raise middle-class taxes, which is why you should pass this bill right away.  (Applause.)   

This is the American Jobs Act.  It will lead to new jobs for construction workers, for teachers, for veterans, for first responders, young people and the long-term unemployed.  It will provide tax credits to companies that hire new workers, tax relief to small business owners, and tax cuts for the middle class.  And here’s the other thing I want the American people to know:  The American Jobs Act will not add to the deficit¹³.  It will be paid for.  And here’s how.  (Applause.)
 
The agreement we passed in July will cut government spending by about $1 trillion over the next 10 years.  It also charges this Congress to come up with an additional $1.5 trillion in savings¹⁴ by Christmas.  Tonight, I am asking you to increase that amount so that it covers the full cost of the American Jobs Act.  And a week from Monday, I’ll be releasing a more ambitious deficit plan -- a plan that will not only cover the cost of this jobs bill, but stabilize¹⁵ our debt in the long run.  (Applause.)