President Obama says his budget plan will cut the federal deficit while stimulating the economy.

Unveiling his 2014 budget blueprint, Obama said his priority is to help the middle class thrive.

The President noted his nearly $3.8 trillion dollar plan boosts revenues by eliminating tax loopholes for corporations and the wealthiest Americans.

The plan calls for a half-billion dollars in tax hikes, achieved primarily by closing loopholes for corporations and the wealthiest Americans.

Obama urged Republicans to join him in finding a common sense budget compromise in the coming weeks and months.