Fox News says Obama has ‘sketched a populist agenda’ during his speech which is ‘sprinkled with jabs at the super rich’ such as critising plans for the Keystone XL pipeline. But most controversial it says are plans for $300bn tax hike on top earners over the next ten years including an end to the break on inheritance tax to fund tax breaks for the Middle Class which Obama says are the engine for future growth. All this, it says, sets the President on collision course with the Republicans who control both houses.
Unlike the President, the Republicans will paint a downbeat assessment of the economy which they say has suffered from stagnant growth and low wages. They will argue tax hikes are not the way forward but creating better jobs – the Republican rebuttal was delivered by Iowi senator Joni Ernst.