"As we look towards next week, any senator out there who's thinking about voting against this jobs bill when it comes up for a vote needs to explain exactly why they would oppose something that we know would improve our economic situation at such an urgent time for our families and for our businesses," Obama said at a news conference.

The president said the "problems Europe is having today could have a very real effect on our economy at a time when it's already fragile. But this jobs bill can help guard against another downturn if the situation in Europe gets any worse. It'll boost economic growth, it'll put people back to work."

"This jobs bill is fully paid for by asking millionaires and billionaires to pay their fair share," Obama said. "Some see this as class warfare. I see it as a simple choice: We can either keep taxes exactly as they are for millionaires and billionaires, with loopholes that lead them to have lower tax rates, in some cases, than plumbers and teachers, or we can put teachers and construction workers and veterans back on the job."

The bill introduced by Senate Majority Leader Harry Reid on October 5 night includes a so-called "millionaire's surtax," a separate 5.6% tax on income over US$1 million.

The tax hike would kick in 2013, rather than 2012 as previously proposed.