The prospects for President Barack Obama's $447 billion jobs plan grew dimmer Monday as he unveiled the fine print of how it would be paid for—primarily through tax increases that Republicans said would destroy jobs, not create them.

Mr. Obama proposed limiting itemized deductions for families with taxable income of $250,000 or more a year, ending tax breaks for oil companies and corporate jet owners, and cutting out a tax break for investment-fund managers. The White House says the tax changes would take effect in 2013 and estimates they would raise $467 billion in additional revenue over 10 years.

Republicans in Congress, who had been striking a more conciliatory tone about backing at least parts of the proposal the president unveiled last Thursday, disputed the White House contention that the plan would cause no additional job losses for the struggling economy.

"It would be fair to say this tax increase on job creators is the kind of proposal both parties have opposed in the past,'' said Michael Steel, a spokesman for House Speaker John Boehner (R., Ohio). "We remain eager to work together on ways to support job growth, but this proposal doesn't appear to have been offered in that bipartisan spirit.''

Mr. Obama made a new pitch for his plan at the White House Monday and has said he intends to campaign against Congress and Republicans in 2012 if they don't pass the bill.