Posted on 02/03/2009 3:07:56 PM PST by Fred
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 to Obama in the 2008 presidential election.
The package put forward by McCain and others was priced at $445 billion, half the cost of the Democratic version.
It centered on cutting in half a 6.2 percent payroll tax on employees, cutting the corporate tax rate to 25 percent from 35 percent and lowering the bottom two income tax brackets to 10 percent and 5 percent, all for one year.
McCain and Sens. Lindsey Graham of South Carolina, John Thune of South Dakota, Richard Burr of North Carolina and Mel Martinez of Florida also proposed $11 billion to prevent home foreclosures and $65 billion in state grants to build and repair bridges and roads.
(Excerpt) Read more at ca.news.yahoo.com ...
It’s still too much. What pantywaists, more stupid grandstanding.
I think every Republican including the RINOs (yes, that means you McLame and
Gramnesty)needs to gather ‘round the DeMint plan.
A tax cut, as proposed by the Republicans, is at least a stimulus- which is more than could be said for the Democrat “stimulus”.
Reducing the rates on cap gains and the top tax brackets would give the bill a lot more punch and be a lot more worthwhile.
Palin on the Stimulus: ‘I Agree With the Decision to Vote NO.’
NRO | February 03, 2009 | Jim Geraghty
Posted on 02/03/2009 4:32:59 PM PST by redk
http://www.freerepublic.com/focus/f-news/2177787/posts
Must see: Mark Sanford carves up the stimulus
Hotair | 02/03/2009 | Allahpundit
Posted on 02/03/2009 5:34:18 PM PST by JRochelle
http://www.freerepublic.com/focus/f-news/2177831/posts
Surveying Republican Governors on the Stimulus Bill
NRO | February 03, 2009 | Mark Hemingway
Posted on 02/03/2009 3:41:46 PM PST by redk
http://www.freerepublic.com/focus/f-news/2177760/posts
READ IT:
Complete text of HR1
The American Recovery and Reinvestment Act of 2009 [Barf ALERT]
US Senate | 2/3/09 | Congress
Posted on 02/03/2009 12:21:58 PM PST by XR7
http://www.freerepublic.com/focus/f-news/2177618/posts
This is insane - $445B almost looks like a deal. I can't quite read that number and think about the $400B we're "saving" compared to the Dems plan, but I imagine a lot of people do just that.
Proposal has not seen the light of day.
Scream from the mountain tops.
pkm; Did you see Senator Coburn speak on C-span last night?
He rocks!!!
So do I, and we know Dems will insist on spending, spending, spending. My hope is Repubs can slow them down, and delete some of the pork.
To me it’s better if the Republicans just don’t support the bill at all. It’s not going to work. And if any of their proposals get accepted and passed, the Democrats can just come back later, as always, and say, “Well it’s the Republicans’ fault because they were mean and made us take out the parts of the bill that would have really worked to stimulate the economy.” Never compromise with a Democrat - it’ll come back to bite you later. Unite like the House and vote against it. They have enough votes in the Senate without the Republicans - let the Demons take complete ownership of this boondoggle!!
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