Boehner unveils stimulus proposal
U.S. House Republican leader John Boehner Tuesday unveiled his economic recovery package.
The Ohio Republican called for doubling the size of the child tax credit from $1,000 to $2,000 per child, reducing the corporate tax rate from 35 percent to 25 percent and temporarily suspending the capital gains tax.
Americans are overtaxed and their wallets are stretched thin, and they don't trust Washington. Frankly, I don't blame them, Boehner said in a conference call with reporters.
We need to encourage economic growth not by increasing spending on government programs and pork, but by helping middle-class families and small businesses keep more of what they earn and encouraging investment in job creation right here at home.
Democrats are expected to introduce a $150 billion economic stimulus package when Congress returns next month. Boehner said he thinks the Democrats' package would not help the U.S. economy.
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We've already passed an increase in food stamps in the farm bill, he said.
There's already a serious unemployment program out there. I just don't think that those -- that that type of spending will help us in the short or long term.