Congress split on economic kickstart

John Dimsdale Jan 15, 2008
HTML EMBED:
COPY

Congress split on economic kickstart

John Dimsdale Jan 15, 2008
HTML EMBED:
COPY

TEXT OF STORY

Scott Jagow: Washington is abuzz with talk of stimulating the economy. The White House has a few ideas. Congress gets back to work today and the economy will be a top priority. Of course, agreeing on a stimulus package might not be as easy as predicting a recession. Here’s John Dimsdale.


John Dimsdale: Republicans and Democrats concur the economy could use a kickstart. But there’s little agreement on where to aim the kick.

Many Republicans say it’s business activity that’s stalled, that they favor investment tax credits or cuts in capital gains taxes. Democrats focus more on consumers, and call for extra food stamps, increased unemployment benefits, and public works projects to create jobs.

Budget expert Stanley Collender at Qorvis Communications doesn’t expect the two sides will find common ground.

Stanley Collender: Given, you know, the last year’s history of the two sides not working together, unless the economy goes south, very far south very quickly and is unambiguously bad, it may be very difficult to get an agreement together.

One more problem. By the time Congress and the White House work out their differences, tax cuts and additional spending might come too late to do the economy any good.

In Washington, I’m John Dimsdale for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.