Wednesday, February 04, 2009

Senate Republicans offer a real stimulus package

Despite what our local pundits say the Republicans in Congress are offering reasonable alternatives to Nancy Pelosi's Pork-zilla. U.S. Senate Republicans push alternative stimulus plans "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. Senators worked throughout the day to find a bipartisan deal. McCain and four other Republicans unveiled their ideas priced at $445 billion, half the cost of Democratic version which started the day at $885 billion. It centred 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 help prevent home foreclosures and $65 billion in state grants to build and repair bridges and roads. Via Time.

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