As we go to press, President Obama is promoting a $447 billion job creation package and his opponents are blasting it—in other words, business as usual in Washington, D.C.
While conservatives call the plan just another excuse for building a bigger government, economists believe that it will at least stimulate spending and reduce the unemployment rate. The bill even includes some perks for small businesses, including temporary tax credits and reduction or elimination of payroll taxes for businesses that hire new employees.
House Republicans have floated their own proposal, which centers on deficit reduction, a congressional review of government regulations impacting business and streamlining the tax code.
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