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."

[BGHater]

Dam. It never ends.

[johniegrad]

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

[domenad]

Cantor don’t be an idiot. If your stimulus works, Obama will get credit. If it doesn’t, you get the blame. YOU CAN”T WIN THIS ONE!

[Rutles4Ever]

You can cross him off the list.

The GOP is exocoriating Palin when this all we’ve got now?

[Onerom99]

Cantor rolling in the grass with snakes. This would be a terrrible mistake for him to try to deal with the Dems here.

Pure inexperience. This guy was touted as a VP candidate? Cantor has his head up his ass. They’ll throw the GOP a couple token tax cuts while they are porking up the bill at 2 in the morning before the vote.

Where’s Boehner on this? He needs to get control of his idiots.

[italianquaker]

Yes and no, odumbo would rather take the bottle from michelle then support tax cuts. So Cantor can offer whatever he wants but odumbo will not cut taxes, it is not in his vocabulary

[mia]

Tax cuts? My husband just received a notice that his withholding on his pension will be doubled. Looks like the tax tables are changing and the feds don't want us to know just how much. With a larger withholding, they think we won't notice the increase.

[Ann Archy]

Cantor is NOT national material....PERIOD. He has NO sense of humor....doesn’t smile....BORING!!

[mia]

Tax cuts? My husband just received a notice that his withholding on his pension will be doubled. Looks like the tax tables are changing and the feds don't want us to know just how much. With a larger withholding, they think we won't notice the increase.

[freekitty]

RINO. I hope they unelect this POS.

[mia]

oops. Sorry about the double post.

[camle]

DON’T DO IT!!!

when the effects of stimulus I coem in, they’ll blame it on the tax cuts.

[P8riot]

Oh, he smiles, but he looks right past you when he does. I met him at a Rotary breakfast a few months back. I remember the breakfast, but not a lot of what he said.

[Leisler]

Jeb Bush, Cantor, Rino Romney on their famous, only one time, 'listen tour'. ( Notice all the fakes. Fake brick wall, fake 'pizzeria', industrial suspended acoustical tile ceiling, and of course politicians, their handlers, staff, coat holders, boot licks, boil suckers, press, a couple of employees that lost tip money to this monkey circus.)

[WayneS]

Don’t do it, Mr. Cantor.

I WILL vote against you if you support ANY “stimulus package”

[BGHater]

He already is a TARPer.

[angkor]

You can cross him off the list. The GOP is exocoriating Palin when this all we’ve got now?

Cantor is allegedly an "up and coming GOP leader."

More like an emerging RINO.

[Son House]

Yep, first repeal the last stimulus, then start with real economics for job growth, what was missing

[TChris]

Good heavens... Is the Republican leadership REALLY this clueless???

Stop the insanity!!!