US-China climate deal offers hope for Paris negotiations: Obama

(Xinhua) Updated: 2015-01-21 14:39

US President Barack Obama blows a kiss to his wife, first lady Michelle Obama who was sitting in the gallery, at the end of his State of the Union address to a joint session of the US Congress on Capitol Hill in Washington, January 20, 2015.[Photo/Agencies]

What Obama proposes in State of the Union Address

TAX REFORM

Obama calls for increasing taxes on the wealthy to help the middle class. His plan would raise the tax rate for capital gains to 28 percent from 23.8 percent, and close a loophole so that the rich must pay "their fair share" on their inheritance.

Other plans to help the middle class include:

* Tripling the maximum child care tax credit to $3,000. * Creating a federal-state partnership to provide 4-year-olds with quality preschools, and paying for it through a tobacco tax hike. * Cutting taxes for middle-class families with two working spouses.

ISLAMIC STATE

Obama asks lawmakers to pass a new authorization of military force against Islamic State militants to replace powers that were given to President George W. Bush for the Iraq war.

TRADE

Obama proposes support for two trade agreements: the Trans-Pacific Partnership with a group of countries in Asia and the Transatlantic Trade and Investment Partnership, or TTIP, with Europe. He will also push for a bipartisan "fast-track" bill to speed trade agreements through Congress, and wants to see the reauthorization of the Export-Import Bank.

CYBERSECURITY

In the wake of high-profile hacking attacks against Target Corp gan Chase and Co, Obama calls on Congress to pass legislation to "meet the evolving threat of cyber-attacks."