President Obama will present his $4 trillion spending plan for 2016 to the GOP-controlled Congress on Monday, looking to raise taxes on the highest earners, add a new 14 percent tax to offshore profits and adopt a new public-works program.

The $478 billion public-works project is a six year task proposed by Obama to work on roads, bridges, highways and public transit and has bipartisan support in Congress, the issue is how do the U.S. government fund this new program.

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The new 14 percent corporate tax on overseas sales should fund around half of the program. The U.S. will demand the tax from companies immediately, adding billions in profit overseas from companies like Google, Amazon, Facebook and Apple.

Obama's new tax is part of a larger scheme to stop corporate tax breaks and increase tax on the most wealthy in the U.S. The new taxes should help the middle-class with public transport and roads, alongside other new programs proposed by the Democrats.

The GOP-controlled Congress does not seem to agree on the current top-down redistribution economics, taking more from companies and the rich and feeding the income into more public projects.

U.S. companies are not embracing the new corporate tax with open arms, considering the low tax rates in places like Ireland and Luxembourg allow them to skip high corporate tax rates in places like the UK and Germany.

The Republicans will look at other ways to raise the necessary capital to fund these new programs, but have all but rejected Obama's new corporate and high wealth taxes.

Obama's new fiscal 2016 plan comes two years before a new President is elected, and the current crop of Republican candidates vastly overshadows the Democrats. Old faces like Mitt Romney, Hillary Clinton, Rick Perry, and Rick Santorum are all re-running in 2016.

TagsPresident Obama, Congress, public-works program, spending plan, fiscal 2016