| House Republican Leader John Boehner Weekly Republican Address PODCAST OF THIS ARTICLE |
Boehner Statement on House Republicans’ Economic Recovery Proposals
House GOP Leader: “Our proposals are rooted in the belief that fast-acting tax, rather than slow-moving and wasteful government spending, is the most effective way to create jobs and put our economy back on track.”
Washington, Jan 23 - House Republican Leader John Boehner (R-OH) today issued the following statement on the economic proposals House Republicans presented to President Obama during a White House meeting earlier this morning:
“We had a productive meeting with the President this morning and, as he requested earlier this month, presented him with a series of proposals to get our economy moving again. Our proposals are rooted in the belief that fast-acting tax relief, rather than slow-moving and wasteful government spending, is the most effective way to create jobs and put our economy back on track. They provide relief to those who need it most: middle-class families, job seekers, small businesses owners, the self-employed, and homebuyers.
“Rather than spending too much, too late as the congressional Democrats’ proposal does, our proposals let the American people keep more of what they earn to spur investment, encourage savings, and create more private-sector jobs. I thank our Republican Whip, Eric Cantor, for leading the Working Group that developed these proposals, and hope the President and congressional Democrats consider our ideas to get more money back into the economy as quickly as possible.”
NOTE: The House Republicans’ economic recovery proposals – which are detailed in full here – include:
* Immediate Tax Relief for Working Families: House Republicans propose reducing the lowest individual tax rates from 15 percent to 10 percent and from 10 percent to 5 percent. Under the proposal, a married couple filing jointly could save up to $3,200 a year in taxes.
* Help for America’s Small Businesses: House Republicans propose to allow small businesses to take a tax deduction equal to 20 percent of their income. This will immediately free up funds for small businesses to create new jobs.
* Assistance for the Unemployed: House Republicans propose to make unemployment benefits tax free so that those looking for work can focus on providing for their families.
* Stabilizing Home Values: In order to encourage responsible buyers to enter the market and stabilize prices, House Republicans propose a home-buyers credit of $7,500 for those buyers who make a minimum down-payment of 5 percent.
* No Tax Increases to Pay for Spending: The congressional Democrats’ spending plan includes record levels of government projects and programs that will substantially increase the current deficit, without spurring a rapid economic recovery, according to the non-partisan Congressional Budget Office. House Republicans are concerned that this level of spending could result in near-term tax increases on American families and are insisting that any economic package include a provision precluding any tax increases now or in the future to pay for this new spending. #####
Keywords: House Republican Leader; John Boehner; Weekly Republican Address
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