GOP Proposal Also Includes Counterproductive Tax Cuts for Business and Well-Off UI Recipients
On Friday, January 23, House Republican Leader John Boehner (OH) and Republican Whip Eric Cantor (VA) presented their “Economic Recovery Plan” to President Obama. The Republican plan is based on income tax cuts for relatively well-off families, and business tax cuts. As a result, it is unlikely to provide the needed boost to consumption that economists believe can come from either direct government spending or putting money in the hands of working class people who are likely to spend it quickly.
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