John Boehner in Young Guns, by Rep. Paul Ryan, Rep. Eric Cantor & Rep. Kevin McCarthy

On Budget & Economy: Alternative stimulus: reduce taxes; $7500 homebuyer credit

On Jan. 23, 2009, in a meeting with the president and his economic advisers, John Boehner and I presented the president with our alternative stimulus bill. What we proposed could not have been more different than the bloated $787 billion monstrosity that was eventually passed by the Democratic Congress. It was a simple, direct way to create jobs and help our economy by focusing on small businesses. Here are the highlights:

Reducing the lowest individual tax rates from 15% to 10% and from 10% to 5%
Allowing small business to reduce its tax liability by 20%
Ensuring no tax increases to pay for spending
Assistance for the unemployed
A home-buyers credit of $7,500 for those buyers who can make a minimum down payment of 5%

Not only was our plan fair, understandable, and more direct than the Democratic majority's bill, it delivered twice the bang for half the bucks spent in the Democratic plan. After I handed him the plan, Pres. Obama said, "Eric, there's nothing too crazy in here." Source: Young Guns, by Reps. Ryan, Cantor & McCarthy, p. 48-49 Sep 14, 2010

The above quotations are from Young Guns: A New Generation of Conservative Leaders, by Eric Cantor, Paul Ryan, and Kevin McCarthy. Click here for other excerpts from Young Guns: A New Generation of Conservative Leaders, by Eric Cantor, Paul Ryan, and Kevin McCarthy. Click here for other excerpts by John Boehner. Click here for a profile of John Boehner.
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Page last updated: Feb 27, 2019