Monday, January 5, 2009

Obama tax cut is offering to Republicans

President-elect Barack Obama's $300 billion tax cut looks like an effort to get House Republicans to buy his new economic stimulus plan.

The tax cuts will be part of an overal package estimated to cost $800 billion that will include government infrastructure projects to create new jobs.

Obama might also be preparing Republicans for an eventual proposal to hike taxes for the rich. Even California Gov. Arnold Schwarzenegger, a Republican and self-proclaimed 'fiscal conservative' is proposing steep tax hikes because of the state's economic and fiscal woes. Without some new revenues, the federal government will be awash in red ink, and may have trouble actually raising some of the funds required.




BBC News
Obama Pitches Stimulus Package to House Republicans
Washington Post - 1 hour ago
By Paul Kane, Lori Montgomery and Shailagh Murray President-elect Barack Obama arrived on Capitol Hill yesterday and immediately set to work reassuring skeptical Republicans about his massive economic stimulus package -- part of a campaign that earned ...
Video: Obama: Economy 'bad and Getting Worse' AssociatedPress


Obama Pushes for Stimulus on Capitol Hill New York Times
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