President-elect Barack Obama will meet with congressional leaders in Washington on Monday to discuss his economic stimulus package, a plan that reports say will include $300 billion in tax cuts.
The tax cuts for individuals and businesses would account for about 40 per cent of the stimulus package, which is expected to be between $675 billion and $775 billion, according to a number of published reports.
The reported tax cuts, bigger than expected, could be a way to garner support from Republicans who have been critical of the amount of spending in the package.
That's a pretty hefty percentage of the stimulus, devoted to tax cuts. I suppose the devil will be in the details, but it should provide our government with a timely talking point, should they take heat on the nature of a stimulus. I would also argue, Obama's move lessens the probability of making a compelling argument to defeat the budget, based on the tax package.