Obama presents budget plan

WASHINGTON (NBC News) – President Obama unveiled his 2015 budget proposal Tuesday. One highlight of the president’s budget is an expansion of the Earned Income Tax Credit.

“Right now, it helps about half of all parents in America at some point in their lives,” Mr. Obama said.

13.5 million more workers would be eligible to share $60 billion in credits that would then be replaced by eliminating tax loopholes for the rich.

The $3.9 trillion proposal also has billions for roads, railways, veterans hospitals and national parks, spending that the president says will bolster the economy, but critics complain continue to run up the debt.

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