Republican Senators put together an alternative stimulus package that has a much lower price tag than the current version of the stimulus bill, as the AP reports that the current plan tops $900 billion. The Republican alternative allows home owners to refinance their home mortgages at a low interest rate that will help the home owner and help stabilize home prices in general. This plan also provides more money for infrastructure projects than the current bill and cuts the payroll tax and the corporate tax to encourage economic growth and job creation. Also, it requires spending cuts once the economy has rebounded helping to limit the amount of future government debt. CNN reports not only that their is a this second bill, but moderates are also working on the current bill trimming the excess pork…
Some Republicans want to take it a step farther than their party’s leaders. Ten Republican senators, including Sen. John McCain, want more funds — almost $90 billion — for infrastructure. They are shopping around a plan with a price tag of just under $500 billion.
“We can either fight the Democrat proposals, which would increase the deficit incredibly and mortgage our children’s futures and not beneficially stimulate our economy, which we will do, in many respects. But we have to have a proposal of our own,” said McCain, R-Arizona.
That version of the stimulus measure, put together by Florida Sen. Mel Martinez, is broader than the one proposed by GOP leadership, but narrower than the Democratic bill.
The group of Republicans met Tuesday to discuss their plan because they don’t believe their leadership’s approach, focusing exclusively on the housing crisis and tax cuts, is enough to jump-start the economy.
Another alternative that’s getting a lot of attention is a bipartisan plan from Nebraska Democrat Ben Nelson and Maine Republican Susan Collins. The two moderate senators are looking at the current economic stimulus package and trying to scrub it of all spending that they say will not stimulate the economy.
One attempt to trim pork from the current bill was successful. An ammendment passed sponsored by Tom Coburn that eliminated a $246 million dollar tax break for Hollywood movie companies.
Senator McCain has sponsored a petition protesting the current version of the stimulus bill…
Sign Vote No On The Stimulus Package Petition
Filed under: Economy, Independent, McCain, Moderate, Obama, Politics, media | Tagged: alternative stimulus plan, housing stimulus, new stimulus package, payroll tax stimulus, republican stimulus
I might be mistaken but didnt John McCain Ssay: THE ECONOMY IS FUNDAMENTALLY SOUND?
He is so wishy washy we dont know if he is coming or a going!
GOP talking point of the day from the Red Dawn Oracle:
This is the faster way to Destroy America! Please pass this and help president Obama. Ops My name is really Sam
What are the details of the Republican package???
All I hear is talk, talk, talk – no real details. Lay it out and get on with the problem solving at hand. If both bills were laid out side by side, you might get more support!!! PUBLISH THE DETAILS OR SHUT UP
[...] * Failing to report that the Republican Congressmen had developed a lower-cost alternative to the stimulus package that featured …. [...]
This is the first time I comment here and I must say you provide genuine, and quality information for other bloggers! Good job.
p.s. You have a very good template for your blog. Where did you find it?
Thanks HJ.
The theme/template is Digg 3 Column one of the free options from WordPress.
Charles – how in the world were the Republicans suppose to come up with theirs when the Democrats rushed this through so quickly THEY didn’t even read it. They agreed to something THEY didn’t even read and Obama signed it.
Smells like rotten fish to me!
sparky, how were the republicans able to constructively criticize the democratic bill if they hadn’t read it?
I too would have liked to have seen the Republican version stimulus plan in detail. The freedom of information act is there for us more informed citizens to see the truth. It seems the “mudslinging” between Red and Blue is worse than during any campaign. I’m just another person who has been laid off due to current events. I’m concerned about money, home and food as many others are. Although, the extra free time gives me the chance to dig into the issues more deeply. I recently told a friend who is extreme Democrat, my views. The Democrats have their version, the Republicans have theirs, and the truth is somewhere in the middle. Unfortunately, most people are sheep with the IQ of a garden vegetable….PS, I too would like any advise on improving my recently established Blog. Thank you for your time, and Kudos on your site….
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