GOP unusually resistant to Obama tax cut

[bk1983]

Republicans normally have never seen a tax cut they didn’t love – but that doesn’t seem to be the case with the economic package being prepared by President-elect Barack Obama.

Key GOP members on the Hill are responding warily to word that Obama’s stimulus plan will include about $300 billion worth of tax cuts, expressing tempered support for providing relief but unease about the size of the overall stimulus plan and who will benefit from the cuts.

Republican congressional leaders would like to ensure that the relief includes middle-class and upper-middle class individuals and families – not just those who pay little or no taxes.

A central part of Obama’s tax cut proposal will include a tax credit – $500 per individual or $1,000 per family – that fulfills his campaign’s aim to eliminate taxes for about 10 million low-income workers and offer relief to those who pay no taxes at all.

GOP unusually resistant to Obama tax cut - Yahoo! News

 

[AllieBaba]

That would be because this $300 billion tax cut has a cost of $700 billion.