the article provides new information about the current views of at least House leadership regarding the stimulus package that I find to be very encouraging. I will not read all of the article, but I will simply cite one paragraph. It says: House Majority Leader Richard Armey (R., Texas), one of two GOP House leaders appointed to negotiate a final package, said the version would include many of the most politically popular provisions on the table, some scaled back from levels that have been unacceptable to Senate Democrats. They include a depreciation bonus for new capital investments; higher expensing limits for small businesses; and extension of the net operating loss carry-back period to five years, from two; accelerated reductions in individual income-tax rates; $300 rebate checks for low-income workers; and extensions of tax breaks due to expire Dec. 31. The package also would feature at least $20 billion to extend unemployment benefits by 13 weeks and to help jobless workers buy health coverage. My response to this article is two words: I accept. I accept. I think this would go a long way in dealing with many of the concerns that Senate Democrats have expressed--concerns we have now had for some time. There is one major caveat. The only major change we would have to have is that we would trade the accelerated rate cut proposal currently listed as part of the Republican package for the Domenici payroll tax holiday.
Thomas Daschle: “the article provides new information about the current views of at least House leadership regarding the stimulus package…”
On the recordDecember 11, 2001
Source
govinfo.govEditor's note · Context
Discussing the House leadership's views on the stimulus package during a Senate floor debate.
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