Andrew Torgan
CNN Financial News Producer

The Obama Administration is expected to slash the estimated cost of the Troubled Asset Relief Program by $200 billion, effectively paving the way for a massive federal jobs program.

The latest projection, which will be officially unveiled by the White House this week, would cut TARP's price tag by $200 billion to $141 billion, according to a Treasury Department official.

And officials tell CNN that President Obama will recommend using the $200 billion to fund a series of projects - including building bridges and roads and weatherizing homes, as well as providing further aid to the unemployed and to small businesses. That’s expected to come in a speech on Tuesday.

Such a move is certain to draw fire from Republican lawmakers, who have railed against using any leftover bailout funds or money that has been paid back by banks for any new projects.

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Editor's Note: After Friday's AC360°, many of you sent in comments about the verdict in the Amanda Knox murder trial. Opinions were split about whether or not Knox is guilty. What do you think?
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I think it is pathetic how we have been potraying Amanda Knox as an innocent beautiful American girl. What about the victim's family? What about their beautiful girl who was brutally murdered? I don't see an innocent girl here, she does not care, coming into the courtroom all American because we always have it our way. I even heard her parents say that the sec.of state was going to get involved. Really? I think as Americans we should be ashamed. This girl deserves life in prison without parole. Young peole have taken the meaning of fun to a whole new level including killing for pleasure. We have even deemed the Italian justice system as incompetent. It's time for America to respect other countries and let justice be served. Let us at least have some decency to acknowledge that Amanda is not the victim in this case.

Your coverage is excellent in trying to portray different sides of an issue, but you have totally failed to do so in the Amanda Knox case by not covering the "victim's side". It seems like you are criticizing the Italian legal system. Who are we to judge? no one really knows if she is guilty or not, but her original comments and behavior contributed to the verdict. Maybe justice was indeed served.

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CNN

Amanda Knox is accused of murdering her roommate, British student Meredith Kercher, on November 2, 2007, in Italy. She faces life in prison if found guilty.

Go here and scroll down to view the evidence in the Knox trial.

CNN

Amanda Knox, who is accused of murdering her roommate in Italy, was an easy child to raise in Seattle, Washington, along with her younger sisters Deanna and Ashley, her parents said. She took to soccer early on but hit the books as hard as she played.

Go here and scroll down to view a photo gallery of Amanda Knox's childhood.

Editor's Note: We take a look tonight at the case of Maurice Clemmons and the legal provision called Interstate Compact Supervision that allows offenders across state lines amidst pending charges.We'll have more tonight at 10 p.m. ET.

Interstate Commission for Adult Offender Supervision

CNN

Editor's Note: We take a look tonight at the case of Maurice Clemmons and the legal provision called Interstate Compact Supervision that allows offenders across state lines amidst pending charges. Jeffrey Toobin joins us tonight on AC360° at 10pm ET.

Interstate Commission for Adult Offender Supervision

(Image courtesy of The Stranger)

AC360°

There are still unsolved questions surrounding the case of Maurice Clemmons. Questions that prompt us to take a deeper look at the legal system and why Clemmons had been released from jail just last week despite pending felony charges and a lengthy criminal history.

According to a document posted by the Seattle newspaper, The Stranger, Clemmons had posted bail on his recent charges allowing him to walk free after being charged with assualt and child rape. The bail had been set at $190,000 but records indicate that he had only paid $15,000.

These charges were separate from those which were commuted in 2000 by then-Arkansas Gov. Mike Huckabee. Clemmons had received a 95-year prison sentence in Arkansas in 1989 for a host of charges, including robberies, burglaries, thefts and bringing a gun to school.

Take a look at Maurice Clemmons bail receipt...