Politics

President Obama leaning towards new incentives for small businesses

A senior administration official tells Fox News that in advance of his economic speech at Brookings Institution on Tuesday, President Obama is leaning towards new incentives, either through the tax code or some other means, for small businesses that hire new workers and new spending for the construction of roads, bridges and other infrastructure.  The  officials spoke on condition of anonymity because the package, and Obama's speech, are still being crafted and could change through the weekend and beyond.

The President is open to a federal infusion of money to cash-strapped state and local governments, considered among the quickest and most effective — though expensive — ways to stem layoffs. But officials stressed the president likely won't mention in his speech every job-stimulating idea he will eventually support.

Mike Emanuel currently serves as chief congressional correspondent for FOX News Channel (FNC). He joined FNC in 1997 as a Los Angeles-based correspondent.