AMERICAN President Barack Obama yesterday said that he was at ease with the Senate proposal to pay for his jobs legislation with a tax surcharge on income exceeding USD one million.

He told the mediapersons that he was okay with the approach the Senate has taken about the fiscal proposal put forth by Senate Democrats to cover the $445 billion cost of a jobs proposal that would, among other features, lower payroll taxes on workers and employers. President said that Congress would still have to make other changes to the tax code as part of a broader programme to reduce the deficit over a period of 10 years.

He said that there is “no doubt” that the American economy is weaker now than it was at the beginning of 2011, and he called for the Senate to pass his jobs act when it takes up the measure next week.