26 January 2010 / AP, WASHINGTON
President Barack Obama is set to announce a series of economic initiatives Monday aimed at helping struggling middle class families. The proposals include a doubling of a child care tax credit, caps on student loan payments, and aid for families taking care of elderly relatives. The plan would also offer retirement savings options for workers who don’t get an employer-based plan.
The initiatives were first reported Monday by The New York Times. A White House official says they are aimed at the “sandwich generation” -- Americans who are struggling to care for both their children and their parents. Helping middle class families in particular is expected to be a key theme on Wednesday when Obama delivers his first State of the Union address. The official spoke on the condition of anonymity because the speech has not been finalized.
Obama and Vice President Joe Biden will announce the initiatives at a meeting of the administration’s middle class task force.
