HOUSE Republican Leader John Boehner

“[A]ll the [Democratic] package is really likely to do is add $300 billion to Main Street’s public debt without spurring economic growth. . .Fortunately, there is an economic recovery proposal being offered that will affect long-term expectations.  This is the ‘Rapid Recovery’ plan unveiled this week from House Minority Leader John Boehner.  This would cut tax rates on business and individual investment and remove burdensome regulations to energy exploration.”

“The Boehner plan would cut the U.S. corporate tax rate, among the highest in the world, to 25 percent from 35 percent.  It would eliminate some capital gains taxes.  This is important because, in addition to economic turmoil, a significant part of the stock market decline this year has been due to expected higher tax rates on dividends and capital gains.  Folks are selling now to pocket their gains before rates go up next year.  This was the conclusion of a recent New York Post op-ed by CNBC reporter Charles Gasparino, who wrote that Obama’s ‘plan includes some of the most lethal tax increases imaginable, including a jump in the capital-gains rate. . .This is clearly the wrong way to go in the wake of an economic meltdown.’”

“The plan has another provision costless to taxpayers that would be very important for economic stability. It would get rid of burdensome regulations that curtail oil exploration in the shale and offshore. This is crucial in helping to prevent a sudden oil spike from crimping an economic recovery. . .Overall, Boehner’s plan deserves kudos for recognizing that a ‘rapid recovery’ can only be spurred by the right long-term policy incentives.”

“True economic stimulus requires a pro-growth tax and energy policy.  Sadly, many in Congressional leadership have failed to realize this. . .Until now.”

“On Tuesday, House Republican Leader John Boehner presented ‘The Republican Rapid Economic Recovery Plan.’  The plan contains several good policies that should be included in any new stimulus package.  Specifically, the plan includes a 10 percent cut in the corporate tax rate,  increases in the amount of investment small businesses can deduct immediately, relaxation of rules relating to net operating losses, and immediate implementation of an ‘all of the above’ energy plan.  This would encourage job and economic growth, and provide a much needed boost in domestic energy production. . .Congressman Boehner deserves credit for proposing new ideas that would generate short-term stimulus and long-term growth.”

“Even after Congress was forced to pass a $700 billion rescue bill, Democrat leaders are now threatening to add an additional $300 billion spending bill.  They are characterizing it as a ‘stimulus bill,’ saying our economic system needs more spending.  This of course comes at the same time that Congressional Democrats are pushing to cut defense spending by $150 billion.  I just don’t see the logic.”

“None of the options outlined by Speaker Pelosi will stabilize the economy, encourage our markets, help small businesses, or salvage individual savings and retirement accounts; but Republican Leader Boehner has a five-step plan that I support to prompt economic growth and rapid recovery. . .”

“This plan is built on strong principles and core conservative values.  I am urging Speaker Pelosi to put partisan politics aside – despite the pending election – and embrace Boehner’s plan.”