Obama: No tax reform without spending to spur jobs

Washington: President Barack Obama says there are no gimmicks to grow the economy - just difficult steps that require Washington's focus.

In his weekly radio and Internet address, Obama is promoting a plan he says can break through gridlock. He's calling it a grand bargain for the middle class.

Obama says he's willing to work with Republicans to reform the tax code for businesses. That would mean lowering rates but ending many loopholes and deductions. But Obama says he'll only do it if money generated is used for infrastructure, training and job growth.

In the Republican address, Sen. Susan Collins of Maine says Obama's health care law will cost jobs. She wants to change the law to require companies to provide insurance to employees working 40 hours a week, not 30.