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Five conservative Republicans – three from the House and two from the Senate -- have introduced a “common sense” economic stimulus package that includes energy proposals tthey say will boost the economy without adding to the national debt. The “no-cost stimulus plan” calls for expanding offshore oil and gas production and leasing the Alaska National Wildlife Refuge (ANWR) to oil and gas producers, which in turn would generate new federal revenue. “This is an energy plan involving both traditional and renewable energy that can create significant jobs, significant economic growth without costing the U.S taxpayer one cent and without having...

[42 min ago ] (NECN: Washington) - Lawmakers have reportedly made progress on an economic recovery package and a vote could come as early as this afternoon. The economic stimulus plan has grown to $937 billion. Moderates have been circulating a list of cuts...

WASHINGTON (AP) — The Senate has killed an alternative economic stimulus plan by Sen. John McCain that would have cut income and payroll taxes but spent far less than President Obama's plan. The party-line 57-40 vote against McCain's $421 billion plan came Thursday as a group of moderate Democrats and Republicans struggled to cut up to $100 billion from Obama's version.

U.S. Rep. Jim DeMint, R-S.C., today released a jobs plan he said would stimulate the economy with tax cuts and would create 18 million new jobs over 10 years and 7,000 S.C. jobs this year. DeMint has been one of the Congress' most vocal opponents of the stimulus bill making its way through U.S. Senate that includes possibly a $1 trillion in new spending and tax cuts. DeMint, who was joined in Washington, D.C. by Gov. Mark Sanford, another high-profile critic of the stimulus package, said tax cuts are a more responsible way to spark the nation's economy. "We think...

WASHINGTON (CNN) – Ten Republican senators met in Sen. Mel Martinez's office Tuesday morning to discuss a broader stimulus measure than their leadership is proposing — but a narrower one than Democrats are considering. CNN was the only news organization outside the meeting. Afterwards, Martinez told CNN the details are still being debated and finalized, but they are looking at a ballpark figure of $500 billion, including the cost of tax cuts, infrastructure and military spending, and provisions to address the housing crisis. Martinez and Sen. Lindsey Graham said they plan to present their ideas to fellow Republicans at their...

Tax Provisions: For one year, cut in half to 3.1 percent the payroll tax for all U.S. employees. Cost: $165 billion. Lower the 10 percent income tax bracket to 5 percent and the 15 percent bracket to 10 percent for one year. Cost: $60 billion. Slash the corporate tax rate to 25 percent from 35 percent for a year. For small businesses filing as individuals, their tax bracket would also go down to 25 percent from 35 percent. Cost: $50 billion. Offer in 2009 to homebuyers a tax credit of $15,000 or 10 percent of the purchase price, whichever is...

Republicans in the U.S. Senate on Tuesday unveiled their own, cheaper economic stimulus package focused on tax cuts, pushing back against an $885 billion Democratic plan they say encourages too much new spending. As the Democratic-controlled Senate began thrashing out possible changes to the rescue package President Barack Obama has sought, Republicans indicated they may play hardball ahead of a vote that will require at least some Republican support. "The American people are beginning to figure out what this package is, that it's not a stimulus package it's a spending package," said Sen. John McCain, an Arizona Republican who lost...

Republican lawmakers are raising concerns that ACORN, the low-income advocacy group under investigation for voter registration fraud, could be eligible for billions in aid from the economic stimulus proposal working its way through the House. House Republican Leader John Boehner issued a statement over the weekend noting that the stimulus bill wending its way through Congress provides $4.19 billion for "neighborhood stabilization activities." He said the money was previously limited to state and local governments, but that Democrats now want part of it to be available to non-profit entities. That means groups like ACORN would be eligible for a portion...