http://www.fojb.com/blog/republican-economic-recovery-proposals/Default.aspx?AspxAutoDetectCookieSupport=1

1. Immediate Tax Relief for Working Families: House Republicans propose reducing the lowest individual tax rates from 15 percent to 10 percent and from 10 percent to 5 percent. Under the proposal, a married couple filing jointly could save up to ,200 a year in taxes.

2. Help for America’s Small Businesses: House Republicans propose to allow small businesses to take a tax deduction equal to 20 percent of their income. This will immediately free up funds for small businesses to create new jobs.

–> Small businesses (those employing 500 or fewer employees) can currently pay up to 35 percent of their income in taxes to the federal government. This is one of the highest rates among major economies of the world and Republicans want to ease the burden.

3. Assistance for the Unemployed: House Republicans propose to make unemployment benefits tax free so that those looking for work can focus on providing for their families.

4. Stabilizing Home Values: In order to encourage responsible buyers to enter the market and stabilize prices, House Republicans propose a home-buyers credit of ,500 for those buyers who make a minimum down-payment of 5 percent

5. No Tax Increases to Pay for Spending: The congressional Democrats’ spending plan includes record levels of government projects and programs that will substantially increase the current deficit, without spurring a rapid economic recovery, according to the non-partisan Congressional Budget Office. House Republicans are concerned that this level of spending could result in near-term tax increases on American families and are insisting that any economic package include a provision precluding any tax increases now or in the future to pay for this new spending.

NOTICE – No Government Pet Projects
SCOTT B:

JFK got America out of a recession with Tax Cuts
Reagan got America out of recession with Tax Cuts
Bush got America out of a recession with Tax Cuts.

The New Deal extended the Depression for 10 years until WWII !

OPEN A HISTORY BOOK !

Would this do more to stimulate the economy?

http://www.reuters.com/article/governmentFilingsNews/idUSN2853502020090128

(I am not sure why, but some bot deleted this question)

* Cut the lowest two income tax rates for 2009 and 2010, from 15 percent to 10 percent and from 10 percent to 5 percent.

* Extend through 2010 a patch to the Alternative Minimum Tax, which was originally designed to ensure that wealthy people pay taxes, but instead would hit millions of middle-income families with higher taxes.

* Expand the ,500 first-time homebuyers tax credit for a principal residence to all homebuyers while limiting it to purchasers who can make a down payment of at least 5 percent of the purchase price.

* Provide a tax deduction for small businesses with less than 500 employees equal to 20 percent of their income.

* Offer new tax deduction for those who do not receive tax-preferred, employer-sponsored health care coverage. And provide assistance to the unemployed who do not qualify for a COBRA premium subsidy.

* Give tax exemption on unemployment benefits and extend temporary federal unemployment benefits through 2009, phasing it out through mid-2010.

* Allow companies to write off current losses against previous tax years for up to five years. Companies now can only "carry back" losses for two years. The tax break would not be available to banks and other companies receiving help from the 0 billion bailout package.

* Extend through 2009 a break for small businesses that allows them to immediately write off up certain capital expenditures. (Reporting by Jeremy Pelofsky, editing by David Wiessler)

Yes President Obama is letting the Bush tax cuts for people making over 0,000 a year expire but President Obama’s stimulus bill had 2 billion in tax cuts.

(if President Obama has increased taxes please post which piece of legislation it was)

Individual Tax Cuts:

1. "Making Work Pay" Tax Credit (Sec. 1001, Page 195). In tax years 2009 and 2010, the Making Work Pay provision will provide a refundable tax credit of 6.2 percent of earned income up to 0 for individuals and up to 0 for married taxpayers filing joint returns.

2. Increase in the Earned Income Tax Credit (Sec. 1002, Page 198). Go to the stimulus bill for all the details, but it essentially expands this benefit for the working poor.

3. Increased Eligibility for the Refundable Portion of Child Credit (Sec. 1003, Page 199). In 2009 and 2010, families who don’t earn enough to pay income tax would be eligible to claim the ,000 child credit.

4. "American Opportunity" Education Tax Credit (Sec. 1004, Page 199). Increases the Hope Scholarship Credit to ,500.

5. Refundable First-time Home Buyer Credit. (Sec. 1006, Page 202). This extended and increased the first-time home buyer tax credit from ,500 to ,000.

6. Temporary Suspension of Taxation of Unemployment Benefits (Sec. 1007, Page 203). This exempts from taxable gross income the first ,400 of unemployment benefits.

7. Tax Credits for Energy-Efficient Improvements to Existing Homes (Sec. 1121, Page 208). This provides up to a ,500 tax credit for qualified energy efficiency improvements.

8. Sales Tax Deduction for Vehicle Purchases (Sec. 1008, Page 203). This allows people to write off state and local sales taxes related to the purchase of a new vehicle costing up to ,500.

9. Premium Credits for COBRA Continuation Coverage for Unemployed Workers (Sec. 6432, Page 348)

10. Economic Recovery Credits to Recipients of Social Security, SSI, Railroad Retirement and Veterans Disability Compensation Benefits (Sec. 2201, Page 336). This was a 0 payment for senior citizens, disabled veterans and disabled people living on Social Security benefits.

11. Computers as Qualified Education Expenses in 529 Education Plans (Sec. 1005, Page 202). This allows college students to write off the expense of computers and software, provided it’s for educational purpose and not for games.

12. Plug-in Electric Drive Vehicle Credit (Sec. 1141, Page 212). Allows purchasers of plug-in electric vehicles to write off up to ,000 of their purchase (depending on the power of the battery).

13. Tax Parity for Transit Benefits (sec. 1151, Page 219). This relates to an increased exclusion amount for commuter transit benefits and transit passes.

14. Health Coverage Tax Credit Expansion (Sec. 1899, Page 309).

Small Business Tax Cuts:

1. Extension of Enhanced Small Business Expensing (Sec. 1202, Page 221). This is a temporary increase in limitations on expensing some depreciable business assets.

2. 5-Year Carryback of Net Operating Losses for Small Businesses (Sec. 1211, Page 221).

3. Extension of Bonus Depreciation (Sec. 1201, Page 220). This extends by a year election to accelerate the AMT and Research Credits in lieu of bonus depreciation.

4. Exclusion of 75% of Small Business Capital Gains from Taxes (Sec. 1241, Page 228).

5. Temporary Small Business Estimated Tax Payment Relief (Sec. 1212, Page 222).

6. Temporary Reduction of S Corporation Built-In Gains Holding Period from 10 Years to 7 Years (Sec. 1251, Page 228).

Other Business Tax Cuts:

1. Advanced Energy Investment Credit (Sec. 1302, Page 231). This relates to properties designed to reduce greenhouse gas emissions, such as those that produce
energy from the sun, wind, geothermal deposits, fuel cells, microturbines, or an energy storage system for use with electric or hybrid-electric vehicles.

2. Tax Credits for Alternative Refueling Property (Sec. 1123, Page 211). This is a temporary increase for alternative fuel vehicle refueling businesses.

3. Work Opportunity Tax Credits for Hiring Unemployed Veterans and Disconnected Youth (Sec. 1221, Page 223). This is a tax credit to provide incentive to businesses to hire unemployed veterans and "disconnected youth." That latter term is defined, in part, as young adults "not readily employable by reason of lacking a sufficient number of basic skills."

4. Delayed Recognition of Certain Cancellation of Debt Income (Sec. 1231, Page 224).

5. Election to Accelerate Recognition of Historic AMT/R&D Credits (Sec. 1201, Page 220).
American Recovery and Reinvestment Act of 2009 to fact check me if you want to

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.txt.pdf

Individual Tax Cuts:

1. "Making Work Pay" Tax Credit (Sec. 1001, Page 195). In tax years 2009 and 2010, the Making Work Pay provision will provide a refundable tax credit of 6.2 percent of earned income up to 0 for individuals and up to 0 for married taxpayers filing joint returns.

2. Increase in the Earned Income Tax Credit (Sec. 1002, Page 198). Go to the stimulus bill for all the details, but it essentially expands this benefit for the working poor.

3. Increased Eligibility for the Refundable Portion of Child Credit (Sec. 1003, Page 199). In 2009 and 2010, families who don’t earn enough to pay income tax would be eligible to claim the ,000 child credit.

4. "American Opportunity" Education Tax Credit (Sec. 1004, Page 199). Increases the Hope Scholarship Credit to ,500.

5. Refundable First-time Home Buyer Credit. (Sec. 1006, Page 202). This extended and increased the first-time home buyer tax credit from ,500 to ,000.

6. Temporary Suspension of Taxation of Unemployment Benefits (Sec. 1007, Page 203). This exempts from taxable gross income the first ,400 of unemployment benefits.

7. Tax Credits for Energy-Efficient Improvements to Existing Homes (Sec. 1121, Page 208). This provides up to a ,500 tax credit for qualified energy efficiency improvements.

8. Sales Tax Deduction for Vehicle Purchases (Sec. 1008, Page 203). This allows people to write off state and local sales taxes related to the purchase of a new vehicle costing up to ,500.

9. Premium Credits for COBRA Continuation Coverage for Unemployed Workers (Sec. 6432, Page 348)

10. Economic Recovery Credits to Recipients of Social Security, SSI, Railroad Retirement and Veterans Disability Compensation Benefits (Sec. 2201, Page 336). This was a 0 payment for senior citizens, disabled veterans and disabled people living on Social Security benefits.

11. Computers as Qualified Education Expenses in 529 Education Plans (Sec. 1005, Page 202). This allows college students to write off the expense of computers and software, provided it’s for educational purpose and not for games.

12. Plug-in Electric Drive Vehicle Credit (Sec. 1141, Page 212). Allows purchasers of plug-in electric vehicles to write off up to ,000 of their purchase (depending on the power of the battery).

13. Tax Parity for Transit Benefits (sec. 1151, Page 219). This relates to an increased exclusion amount for commuter transit benefits and transit passes.

14. Health Coverage Tax Credit Expansion (Sec. 1899, Page 309).

Small Business Tax Cuts:

1. Extension of Enhanced Small Business Expensing (Sec. 1202, Page 221). This is a temporary increase in limitations on expensing some depreciable business assets.

2. 5-Year Carryback of Net Operating Losses for Small Businesses (Sec. 1211, Page 221).

3. Extension of Bonus Depreciation (Sec. 1201, Page 220). This extends by a year election to accelerate the AMT and Research Credits in lieu of bonus depreciation.

4. Exclusion of 75% of Small Business Capital Gains from Taxes (Sec. 1241, Page 228).

5. Temporary Small Business Estimated Tax Payment Relief (Sec. 1212, Page 222).

6. Temporary Reduction of S Corporation Built-In Gains Holding Period from 10 Years to 7 Years (Sec. 1251, Page 228).

Other Business Tax Cuts:

1. Advanced Energy Investment Credit (Sec. 1302, Page 231). This relates to properties designed to reduce greenhouse gas emissions, such as those that produce
energy from the sun, wind, geothermal deposits, fuel cells, microturbines, or an energy storage system for use with electric or hybrid-electric vehicles.

2. Tax Credits for Alternative Refueling Property (Sec. 1123, Page 211). This is a temporary increase for alternative fuel vehicle refueling businesses.

3. Work Opportunity Tax Credits for Hiring Unemployed Veterans and Disconnected Youth (Sec. 1221, Page 223). This is a tax credit to provide incentive to businesses to hire unemployed veterans and "disconnected youth." That latter term is defined, in part, as young adults "not readily employable by reason of lacking a sufficient number of basic skills."

4. Delayed Recognition of Certain Cancellation of Debt Income (Sec. 1231, Page 224).

5. Election to Accelerate Recognition of Historic AMT/R&D Credits (Sec. 1201, Page 220).

From the American Recovery and Reinvestment Act of 2009 to fact check me if you want to.
to answer your question Ice T