Republican Alternative Stimulus Package
You know this IS debatable, but it does seem like a nice thing to think of actually having more money on a daily/yearly basis instead of a fast boost.
Top Republican lawmakers on Friday unveiled a plan for tax cuts and other steps meant to pull the battered US economy out of its slump after White House talks with President Barack Obama.
The blueprint, anchored on a series of tax-cut proposals and an effort to prop up sagging US home values, came with the Senate and House of Representatives looking to send Obama a stimulus bill by February 16.
Republicans have fiercely opposed a Democratic bill that comprises 550 billion dollars in spending and 275 billion dollars in tax cuts, charging it is too big, would do little to restore growth, feeds too many pet projects, and kicks in too late.
But “there’s unanimity that our economy needs help,” House Minority Leader John Boehner said at the White House after laying out the Republican initiative before Obama.
The Republican plan relies on cutting lowest individual tax rates from 15 percent to 10 percent and from 10 percent to five percent, tax deductions for small businesses, and a ban on tax increases to pay for new spending — which they say should be paid for by cutting spending in other areas.
It would also make unemployment benefits tax free, and offer a home-buyers credit for those who make a minimum down payment of five percent, according to a statement from the Republican leadership.
“At the end of the day, government can’t solve this problem. The American people have to solve it. And the way they can solve it is if we allow them to keep more of the money that they earn,” said Boehner.
Republican leaders were expected to meet with Obama next week to discuss the plan, as the House prepares to vote Wednesday on the Democratic plan and any Republican amendments.
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