House Republicans ask for more tax cuts

House Republicans are offering a counter-proposal to President Barack Obama's economic stimulus plan, but it looks likely that it will pass with a Democratic vote today. The Republicans are still looking for more tax cuts rather than new government spending.

However, tax cuts now might encourage recession-wary Americans to save rather than spend given the regular flow of gloomy economic news. Apparently that's what happened with the last stimulus plan, and even banking companies have squirreled away money from the big financial bailout instead of making it available for new lending.

The Miami Herald

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