Friday, January 18, 2008

Mitt Romney: His Stimulus Package For The Economy   [Rich Lowry]

Here:

Bidding to seize control of the accelerating debate over economic stimulus, former Massachusetts Gov. Mitt Romney is proposing a package with something for everyone. In an interview this afternoon, Mr. Romney said he will propose:

—To permanently cut in the lowest income tax bracket to 7.5 percent from 10 percent.

—To make that cut immediately retroactive to 2007 tax liabilities.

—To permanently eliminate Social Security payroll taxes for workers over 65.

—To provide 100 percent expensing of new equipment purchased by businesses over two years retroactive to Jan 1 2008.

—To permanently reduce the corporate tax rate to 20 percent from 35 percent over two years.

—To permanently eliminate capital gains and dividends taxes on households earning under $200,000 a year, an idea he has previously proposed.

01/18 05:19 PMShare