Republicans cautious over Obama jobs plan

US President Barack Obama is today seeking bipartisan support for his $447 billion jobs plan, which he announced on Thursday during a speech to the joint houses of Congress.

At the heart of the plan is a proposal to extend and deepen a payroll tax cut for workers that passed last December. Obama would also cut payroll taxes for businesses, offering the most generous breaks to small firms and those hiring new workers.

Republican leaders were somewhat cautious, seeking common ground with the President on some issues, but at the same time, posing serious questions about Obama’s plan.

"I think there are some areas that we can hopefully work together on, such as payroll tax cuts and modifications of Medicare and Medicaid without changing benefits for present beneficiaries and passing free trade agreements," Senator John McCain told The Arizona Republic.

"It seems to me, to be fair, given the deficit situation we're in, he should have told us how he was going to pay for these things," McCain said. "We all want the things that he's talking about, but we want to be able to pay for them and not increase the debt and the deficit any more than we have."

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