Obama asks $450B to lift economy, mostly tax cuts

WASHINGTON — Confronting an economy in peril, President Barack Obama unveiled a larger-than-expected $450 billion plan Thursday night to boost jobs and put cash in the pockets of dispirited Americans, urging Republican skeptics to embrace an approach heavy on the tax cuts they traditionally love. With millions of voters watching and skeptical of Washington, Obama repeatedly challenged Congress to act swiftly.

The newest and boldest element of Obama's plan would slash the Social Security payroll tax both for tens of millions of workers and for employers, too. For individuals, that tax has been...