January 5, 2009
Posted: January 5th, 2009 08:35 AM ET
From CNNMoney.com Senior Writer Jeanne Sahadi
President-elect Obama is rolling out his plan to stimulate the struggling economy.
NEW YORK (CNNMoney.com) - President-elect Barack Obama was set Monday to begin the push for a massive package of tax cuts and spending proposals aimed at reviving an economy mired in recession. Obama will meet with top legislators from both parties including House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., as well as Senate Minority Leader Mitch McConnell, R-Ky., and House Minority Leader John Boehner, R-Ohio. The plan will include about $300 billion in tax cuts for individuals and businesses, an aide to the transition told CNN. Obama has not publicly put a price tag on his overall stimulus plan, though his advisers have said they expect it to fall between $675 billion and $775 billion, 40% of which would be in tax cuts. Filed under: Economy Obama transition |
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