The President has just presented his proposed economic stimulus plan. He says he's confident that the plan will get bipartisan support from both houses of Congress. As the day goes on, I'm sure we'll hear plenty of analysis and commentary, but in a nutshell, here's what he said.
- The stimulus package must be big enough to make a difference.
- There has to be immediate, broad-based tax relief.
- There should be no tax increases.
He's calling for tax incentives for businesses to increase capital investment. He particularly singled out small business.
He also wants direct, rapid income tax relief for the American people. "Let Americans keep more of their own money."
He also called on Congress to maintain the current "temporary" tax reductions which are set to expire in 2010. He believes that uncertainty about the tax cuts is hindering investment.
Finally he said these are temporary stimuli to jump start our "fundamentally strong economy".
Now we'll see how "bipartisan" our elected employees in Washington really are.