See a scorecard on Obama's presidency after one year.

Among the initiatives: a doubling of the child care tax credit for families earning under $85,000; a $1.6 billion increase in federal funding for child care programs and a program to cap student loan payments at 10 percent of income above "a basic living allowance."

His initiatives also include expanding tax credits to match retirement savings and increasing aid for families taking care of elderly relatives. That program would also require many employers to provide the option of a workplace-based retirement savings plan.

See "Judging Obama's First Year, Issue by Issue."

Obama is seeking to offer some attractive options to taxpayers, mindful of the painful implications of the loss of a traditionally Democratic Senate seat in Massachusetts to Republican Scott Brown. White House advisers see Wednesday's State of the Union speech as a key opportunity for Obama to recalibrate his message and reset his presidency after that stinging setback, which took away the Democrats' 60-vote supermajority in the Senate and put his main domestic agenda item, a health care overhaul, in doubt.