President Barack Obama gave his fifth State of the Union address on Jan. 28 inside the House chamber. “… What I offer tonight is a set of concrete, practical proposals to speed up growth, strengthen the middle class, and build new ladders of opportunity into the middle class. Some require congressional action, and I’m eager to work with all of you. But America does not stand still, and neither will I,” President Obama said during his speech.

President Obama spoke of many initiatives he plans to implement this year, if you missed the speech here are the main points:

• President Obama intends to eliminate $4 billion in tax subsidies for the fossil fuel industries “that don’t need it” and instead plans to “invest more in fuels of the future that do.”
• He plans to change the current situation of women making 77 cents for each dollar a man earns to get equal pay for equal work, the president added, “that is wrong, and in 2014, it’s an embarrassment.”
• Setting new fuel standards for American trucks to help reduce U.S. oil imports “and what we pay at the pump.”
• The President also called to Congress to close the prison at Guantanamo Bay in 2014.
• Implementing a China task force in order to hold aggressive inspections to monitor trade violations such as “counterfeit or unsafe goods.”
• Rewards for effective schools with added encouragement for their own curriculum and methods. Along with education, implementing state laws requiring students to stay in school until the age of 18, and extending college tuition tax credit along with doubling the number of work-study jobs in the next five years.
• The topic of border safety was brought up again. He would like to strengthen the border protection, but also to create an option for undocumented students to become legal U.S. citizens.
• The establishment of a financial crimes unit of investigators to crack down on large-scale fraud, and a second unit to look into abusive lending practices and institutional gambling on risky mortgages.
• Tax reforms included a minimum 30% tax rate for individuals whose income exceeds $1 million. However, no tax increases for anyone whose income earning less than $250,000.
• The President announced his plans to implement an executive order to raise the minimum wage of federal employees to $10.10.
• Continuing to maintain a strong military while also by decreasing its budget by $500 billion. As well as a passage of tax credits for companies that hire veterans.