(VOVworld) - U.S President Barack Obama vowed on Tuesday to promote "middle class economics," outlining his final two-year office priorities, with an eye on gaining more supporters for his Democratic Party in next year's presidential election.

President Obama receives a standing ovation as he prepares to deliver his State of the Union address to a joint session of the U.S. Congress on Capitol Hill Tuesday (Photo: Reuters)

President Obama said 2014 was a breakthrough year for the US as it saw spectacular economic growth and jobs had been created at the fastest pace since 1999. Mr. Obama also urged Republican legislators to put aside differences to form a group to approve significant bills. On the basis of the economic recovery, President Obama proposed to raise capital-gains tax from 23.8 percent to 28 percent on high-income earners and financial corporations to implement a number of measures to improve lives of the middle-class. Mr. Obama also called on the Congress to pass a bill to promote pay equality between men and women and threatened a veto if the Congress approved any bill to change the health insurance program known as “ObamaCare”. Regarding anti-terrorism, the President urged Congress to pass new legislation authorizing the fight against the militant group Islamic State. He also opposed any additional economic sanctions while negotiations on Iran’s controversial nuclear program continued. Obama also called on lawmakers to lift the trade embargo on Cuba as he moves to normalize the two countries' relation. The President said that he would continue to join the US’s allies in bringing more pressure to isolate Russia over the Ukrainian crisis.