U.S. President

A new set of proposals on international tax policies will be rolled out by the U.S. President Barack Obama on Monday in an announcement with potential implications for U.S. multinational firms, reports the Reuters. According to the White House Obama will be joined by Treasury Secretary Timothy Geithner for the 11:05 a.m. EDT (1505 GMT) event.

U.S. President Barack Obama availed himself of Tax Day to stress his course aimed at cutting taxes for many Americans. He said that the government would reform the "monstrous" U.S. tax system as millions faced the dreaded annual deadline on Wednesday for filing income tax returns.

“We are beginning to see glimmers of hope,” said Barack Obama in his 45 minute speech at Georgetown University yesterday, on Tuesday April 14. The U.S. President was defending his economic strategy and talking about what has been achieved so far in fighting the U.S. economy downturn which is not in its 16th month. As there was nothing new in his speech White House spokesman Robert Gibbs explained that it was a progress report, telling Americans what had been achieved and what lay ahead.

The president is giving an economic speech at Georgetown University on Tuesday as 100-day symbolic mark of his administration nears.

It is also known that the speech contains no significant policy announcements, but it rather outlines the state of the economy when Obama took office in January, actions of his administration, and future plans regarding troubled sectors. Advisers suggest, Obama shows the public that his policies are actually working, in order for him to insure the public's support for his future plans.