Quantum Windbag
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- May 9, 2010
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Why am I not surprised?
White House considering new tax cut - The Washington Post
The White House is weighing the idea of a tax cut that it believes would lift Americans take-home pay and boost a still-struggling economy, according to people familiar with the administrations thinking, as the presidential candidates continue battling over whose tax policies would do more for the country. Obama administration officials have concluded that the economy, while improved, is still fragile enough that it may need another bout of stimulus. The tax cut could replace the payroll tax cut championed by President Obama in 2011 and 2012, which was designed as a buffer against economic shocks such as the financial crisis in Europe and high oil prices. It expires at years end.
The new tax cut could provide hundreds of dollars or more a year to workers and show up in every paycheck. It may be similar to a tax cut Americans received in 2009 and 2010, which provided up to $400 for individuals and $800 for married couples, sources close to the administration said.
White House considering new tax cut - The Washington Post