Deflecting an already rising tide of criticism over gas prices, President Obama warned the nation that there are “no short-term silver bullets” to solve the problem. But the President also said his administration is considering all options and areas in which the government can make an impact on oil markets.

Simplifying the tax code for small business owners and providing tax relief can help them tend to important issues, such as sales and hiring, according to the President’s framework for overhauling the corporate tax code.

President Obama wants to start providing federal aid to colleges that maintain affordable tuition, “good value” in education and those that ensure more low-income students graduate. The proposal from the administration requires Congressional approval and was mentioned in this week’s state of the union address.

Republican Mitt Romney’s tax plan would cut taxes for about 75 percent of taxpayers by an average of $2,900, but its impact takes a wide swing among income levels with 13 percent of earners potentially seeing an average increase of $900 in taxes by 2015. These are the findings by the independent Washington research group, Tax Policy Center, which studied the tax proposal by Romney, the frontrunner for the Republican nomination.