Obama looks to expand tax break for the low-paid

President Obama is due to propose expanding the Earned Income Tax Credit to 13.5M childless workers when he unveils his annual $1.014T budget plan today. The 10-year $60B cost would be met by closing two tax loopholes for some self-employed professionals and investment-fund managers.

Obama also wants to spend $302B on highways, bridges and transit projects, and increase the minimum wage

While the president's budget has little chance of being approved as is, it will set the Democrats' agenda ahead of mid-term elections later this year.

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