Democrats Push Obama for Smaller Tax Cut in Stimulus Package

President Barack Obama faces pressure from his own party to adjust a government economic stimulus plan of $775 billion, reducing tax cuts and spending more on road, bridge and infrastructure construction. The US politicians anticipate that some combination of spending and tax cuts could increase US confidence and improve the overall economy. But tax cuts and spending will also add to the US debt and other imbalances that have global consequences. Budget and economic priorities can shift quickly as the crisis unfolds. But some projects, such as investment in alternative energy sources, tackle multiple goals and may have broader impact. – YaleGlobal

Democrats Push Obama for Smaller Tax Cut in Stimulus Package

The president-elect would devote 40 percent of the $775 billion to give taxpayers a break, but his party is urging him to put more into roads, bridges and other projects
Peter Nicholas
Saturday, January 10, 2009

Click here for the article on The Los Angeles Times.

Copyright 2009 Los Angeles Times

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