Cantor open to second stimulus with tax cuts

The Hill ^ | 06 July 2009 | Walter Alarkon

[BGHater]

House Minority Whip Eric Cantor (R-Va.) said that Republicans would work with President Obama on a second stimulus bill, as long as it's like the tax cut-heavy package the GOP proposed earlier.

Cantor told reporters Monday that Obama made a mistake by pushing through a $787 billion stimulus bill in February that had too much government spending. With the economy still scuffling and unemployment approaching 10 percent, Cantor said that Republicans could back new stimulus legislation that focuses on help for small businesses.

"We stand ready and willing to work with the president to produce a bill that will actually yield results," Cantor said.

Cantor said that a new stimulus bill could include an income tax cut for small businesses and their employees.

Cantor and Republicans have railed against the initial stimulus and other measures passed by the Democratic Congress and White House because they have increased federal spending and added to the deficit, expected to reach a record $1.8 trillion this year.

But Cantor left the door open to more stimulus legislation even if it led to more red ink.

Cantor said that the efficiencies that save money and help the economy could be found in current programs. He said that lawmakers and the White House should redirect some of the money yet to be spent in the first stimulus away from government programs and toward businesses and taxpayers.

"Let's all be very reasoned and thoughtful; we ought to match any attempt ... with some fiscal restraint in Washington," he said.

During debate over the first stimulus package, Democrats and Republicans tussled over how much money to include for government spending and how much to include for tax cuts. Democrats favored more spending on government programs, citing economists who argued they would directly increase consumption and thus spur the economy. Republicans said that tax cuts were better because they would go straight to small businesses and taxpayers. Cantor and other Republicans backed an alternative that cost less and included more income and corporate tax reductions.

The $787 billion bill passed in February steered approximately 60 percent of its funds to government programs and less than 40 percent toward tax cuts.

The Obama administration in recent days hasn't ruled out another stimulus package to help the economy. Vice President Biden said on ABC Sunday that  the administration "misread just how bad the economy was." But he added it was premature to say whether more stimulus was needed.

Cantor used Biden's remarks to slam the first stimulus bill and tout the GOP's approach.

"It is my belief that they didn't misread the economy," Cantor said. "What they did is they misread the stimulus bill and got the prescription wrong."

[camle]

don’t forget NOT to spend the money!

[gathersnomoss]

Thank you for the post. I have fired off an email to Boy-Cantor....like that f*cking works anymore.

[gathersnomoss]

I will be working on it.

[jwparkerjr]

Just imagine where we would be today if instead of passing all the crapola they've passed up until now they had simply stopped collecting taxes at every level until they had passed up the same amount in taxes as we having to print and borrow!

THAT would be a stimulus!

[FoxInSocks]

Why is there even mention of a second bill? Aren't there untold hundreds of billions still unspent from the first go-round?

I'm going to happynews.com to read about something nice for a change.

[andy58-in-nh]

In order to successfully deal with an enemy like the Obama Gang, the Republicans need someone as tactically ruthless as Michael Corleone. Unfortunately, all of them are Fredo.

[bill1952]

House Minority Whip Eric Cantor (R-Va.) said that Republicans Whigs would work with President Obama on a second stimulus bill...

[NTHockey]

These people REALLY don’t get it, do they? People want this insanity to stop; they don’t hear. People are angry; so what, who cares?

What is it going to take to get the elite royalty in Versailles on the Potomac to listen to our grievances? Do we need the guillotine yet?

[Corin Stormhands]

Why I’ll never vote for Eric Cantor again ping.

[GodBlessRonaldReagan]

I’m open to voting for his oppenent in Cantor’s next primary. I can’t believe I used to tout this guy.

[PogySailor]

House Minority Whip Eric Cantor (R-Va.) said that Republicans would work with President Obama on a second stimulus bill...

Arrrrgggggggghhhhhhhhh.......

Stop spending money we don't have!

[WayneS]

Yes, I know.

I sent him a scathing letter after he voted for it and then Iwrote in my own name for H of R on my ballot in November.

After the election I received a 2 page letter (obviously not a form letter) which purported to “explain” his vote, but also all but apologized for it.

He did not support the Obama “porkulus”, which led me to hope that he had learned his lesson (or course there was also the chance that he’s just a partisan hack and his votes were based only on who was asking).

Now it’s looking like maybe he did NOT learn his lesson.

The only problem is, I need a real conservative to vote for so that we can oust him in a priimary. I do NOT want a democrat representing me in the H of R. Virginia already has 2 dem Senators and that is MORE than enough.

[WayneS]

I am similarly embarrased by my past support of him. He certainly APPEARED to be a real conservative in the past.

Oh, well. Maybe there’s something in the water in DC.

[Ann Archy]

YUK!

[WayneS]

Feel free to add me to that list.

I live in his district. I’ve supported him since he first ran. I wrote in my own name in this past election, and I do not foresee a circumstance in which I will vote for him again.

[Corin Stormhands]

I suppored Steve Martin in the primary.

200 more votes out of Chesterfield and we wouldn’t be having this conversation.

[Corin Stormhands]

er...”supported”

[PhiKapMom]

Second that and don’t blame you at all!

[kenmcg]

The pubbies still don’t get it. Guaranteed they’ll screw up a golden opportunity to gain seats in 2010.

[Leisler]

"I'm Thirsty!"