Friday, November 7, 2008

House Speaker Pelosi Pushes For Quick Action on Tax Stimulus Plan

While some in Congress are cautious to push for a tax stimulus package before President-elect Barack Obama takes office, House Speaker Nancy Pelosi advocated otherwise yesterday, calling for a two-stage effort to boost the U.S. economy. The first part of this plan would include a $60 billion-to-$100 billion stimulus package this month, which would then be followed by a companion measure early next year that would include a "permanent tax cut."

"The economy needs something sooner" than next year, Rep. Pelosi said, stating that any measure enacted in a lame-duck session of Congress this month would serve as a down payment on additional stimulus enacted later.

Read more here.

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