Obama´s tax cut
Obama´s team is thinking in a new plan to cut taxes with the help of congressional Democrats. This plan offer about $300 billion of tax cuts to individuals and businesses, a move aimed at attracting Republican support for an economic-stimulus package and prodding companies to create jobs. Although some tax cuts were always expected to be included in Mr. Obama’s economic package, his team disclosed the scope and some details of the plans Sunday at a time when Republicans have begun voicing criticism of what they describe as an open-checkbook approach to spending. By focusing more attention on the tax cuts in the plan, Obama aides hope to frame it as a balanced, pragmatic approach.
The size of the proposed tax cuts — which would account for about 40% of a stimulus package that could reach $775 billion over two years — is greater than many on both sides of the aisle in Congress had anticipated. It may make it easier to win over Republicans who have stressed that any initiative should rely more heavily on tax cuts rather than spending. The package will also include more than $100 billion in tax incentives for businesses to create jobs and invest in equipment or factories.
But the delays to the timetable also stem from debate within the Obama team about the composition of legislation designed to achieve multiple goals. The team has yet to circulate a draft bill.
Kata said,
January 6, 2009 at 10:21 pm
I think this can be a good solution, the solution we were looking for. At last for the moment, because the economy were getting bad and in a wrong direction, no one wants to get down, even in the market, but believe me people, its going to be good.
Karina said,
January 6, 2009 at 10:43 pm
Are you sure this is going to work? I don’t think so, because the dollar fall down, well a little bit, but if this is the beginning can you imagine the end?
Oharas said,
January 7, 2009 at 9:40 pm
All I can say is, I believe in my president, is he thinks, that´s a good plan for all of us, I trust in him. That´s why he´s president, people chose him.