February 2nd, 2009
02:18 PM ET
14 years ago

Senate Republicans unveil alternative stimulus

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/02/02/art.martinez.gi.jpg caption="Sen. Mel Martinez put together an alternative stimulus measure."](CNN) - Republican senators have unveiled a $713 billion alternative stimulus measure put together by GOP Sen. Mel Martinez.

The measure, obtained by CNN, narrows government spending to infrastructure programs and helping unemployed Americans, addresses the housing crisis, and relies mostly on tax cuts.

Read the measure [PDF]

It remains unclear how many Republican senators have signed onto the measure, but it is a broader approach than the GOP leadership has called for. Senate Minority Leader Mitch McConnell has indicated he wants to limit the stimulus to tax cuts and addressing the housing crisis

But the measure is narrower in scope than the Democratic plan because it eliminates spending on many of the government programs that many Republicans, and some Democrats, believe should not be in the stimulus package.

The broad breakdown:

$430 billion dollars on tax cuts.

$114 billion for infrastructure projects.

$138 billion for extending unemployment insurance, food stamps and other provisions to help “Americans in need.”

$31 billion to address the housing crisis ($11 billion for a loan modification program, $20.4 billion in tax incentives for home purchases, $50 million to temporarily increase loan limits for Freddie, Fannie and FHA)

Filed under: Senate
soundoff (219 Responses)
  1. carlo

    That's too much money for tax cuts and they freakin' know it! That looks like what we've been doing for 8 years! My Lord, I hope people don't fall for this ockey dockey. Those are corporate tax cuts and cuts for the rich. Period.

    February 2, 2009 02:20 pm at 2:20 pm |
  2. House Repub


    February 2, 2009 02:21 pm at 2:21 pm |
  3. E-Man

    The Republicans have screwed up the economy to amost Great Depression levels and they did NOTHING while they had the Presidency, and now they want to dictate policy ??? Get the hell outta here !!! What losers. They are so self centered...

    February 2, 2009 02:22 pm at 2:22 pm |
  4. Mobius

    Like this even matters. Still spending OUR money which we haven't even earned yet.

    February 2, 2009 02:22 pm at 2:22 pm |
  5. JB

    I think it's wrong headed to devote so much to tax cuts. As we've seen over the last 8 years, (and bushs abyssmal job creation record) tax cuts do not lead to job creation – and the notion of so much devoted to tax cuts while we've got two wars in progress is absurd. I think the majority of unemployed Americans would prefer a job and a steady paycheck to a tax cut. The return on investment isn't strong on tax cuts. Any additional funds the middle class may receive will be saved, not spent. I think we've seen that also.

    They're still one-trick ponies – tax cuts, tax cuts, tax cuts. I don't think this plan is good.

    February 2, 2009 02:23 pm at 2:23 pm |
  6. pay to play

    Now we will see where the bipartisianship and spirit of working together lies within the President and that ridiculous Pelosi and Reid. They have offered a bill with pork removed (to some extent). Put your money where your mouth is....Err, except for Barney Frank......

    February 2, 2009 02:23 pm at 2:23 pm |
  7. JJ12345

    Let the criticism begin, everyone has complained about the Republicians not putting out an alternative. Here is the Senate version, remember the House version was monopilized by Peloisi and wouldnt allow any republician amendments.

    February 2, 2009 02:24 pm at 2:24 pm |
  8. obama all the way

    does mcconnell think we are stupid, 100% against the stimulus and they are not trying to block it, oh that's right they want their own stimulus, but remember republicans you had your chance, in fact 8 LONG YEARS, it's time someone with a brain took over, Obama is for all America, repuublicans GO AWAY.

    February 2, 2009 02:25 pm at 2:25 pm |
  9. Matt

    tax cuts = trickle down voodoo economics

    If you really believe that a businessman in this economy is going to spend the tax-cut money he saves on creating more jobs, not pocketing it as extra profit margin, then I'm willing to bet you also think the $18B in baiolout money spent on bonuses wasnb't indicative of just how much coporate america cares about the mess our economy is in and how it's affecting the little guy. This tax cut nonsense is nothing more than GOPers trying to buy votes for 2010.

    February 2, 2009 02:26 pm at 2:26 pm |
  10. Gary of El Centro, Ca

    The Republicans tried it their way over the past 8 years......and look where we are. They had their chance to lead and they took a pass on it, now they just need to get out of the way and let the Dems try to clean up their mess.

    February 2, 2009 02:28 pm at 2:28 pm |
  11. JJ

    I don't understand why the Republicans want the tax cuts bill? Who will benefit from the $430 billion dolar tax cuts? They should break it down so that we the American will know that this is not for the wealthy buisness people. It seems like only the wealthy business will receive a healthy tax cut when the poor business will still be getting less.

    February 2, 2009 02:29 pm at 2:29 pm |
  12. Lee

    We do not need more tax cuts, we need JOBS. How about creating more "businesses" by providing incentives for new or retructuring businesses. Tax cuts is what got us into this mess! They still don't get it, Tax cuts are for the ones who make enough to "pay taxes". Anyone over $250,000 per year. How about no taxes for people on Social Security, Disability or those making under $40,000 per year and reduce taxes for those $41,000 to $250,000!

    February 2, 2009 02:29 pm at 2:29 pm |
  13. Lou in Miami

    The tax cuts for the rich people have proven again and again that does not work.... MEL we tryied that and DOES NOT work....

    February 2, 2009 02:33 pm at 2:33 pm |
  14. Bob in Pa

    Sounds a little more to the point, but do we really need to give Fannie and Freddie any more money to devour. Let them get their house in order and start adhering to sticker lending policies

    February 2, 2009 02:33 pm at 2:33 pm |
  15. Simpliticus

    A stimulus plan laid out by a man who acknowledges that he is not running for reelection next time? Let me get this straight. Here is a supposed stimulus plan laid out by the Republicans who after eight years have driven this economy into the ditch of abysmal proportions, and this is their program for stimulating the economy? Seems to me that Bush's "Can't get fooled again" methodologies have been placed in front of us so that we can get fooled again! We are just getting word that George W. Bush apparently gained this economy to fail so as to have banks being paid for by US tax payer interest over succeeding generations. Think of it! Expect a gamed downturn to arrive and then have the resultant stimulus plan to be expected to have interest paid on that stimulus plan for generations to come! I am sorry but I am not listening to these GOP hacks any longer so that I don't get fooled again!

    February 2, 2009 02:33 pm at 2:33 pm |
  16. Matt

    Yeah, and let's hear where taht $430B goes and who's going to really be pocketing the lion's share of it. I don't want some token $500...the gov't can keep it and spend it on something else if that's all I'm getting....or maybe not even that since the only people getting cuts will be businesses and those below some unreasonably low income level, without consideration for exorbitant student loan payments and the like. Make billions? Millions in tax cuts. Make almost nothing? Tax cuts for you too. Make somewhere in the middle? Eff off. You can shove the tax cut rhetoric GOPers...it's a guaranteed screw for the average middle-class citizen...AGAIN.

    February 2, 2009 02:33 pm at 2:33 pm |
  17. chris@stl

    If this guy thinks he can address the housing problem with $11.05 billion .... it would have been done by without govt intervention .... The banks have already written down 10 times that amount!

    Get real idiots .... you have no idea what you are dealing with!

    You guys need advise from ordinary people (like me and others on this blog!) to tackle the current issues of unemployment, housing and crisis.

    February 2, 2009 02:34 pm at 2:34 pm |
  18. BB

    It really baffles me ------

    The didn't know how to PREVENT it or STOP it, but now they claim to know HOW TO FIX IT?

    Anyone else think maybe there is something in the "FIX" for them and their wealthy friends?

    February 2, 2009 02:35 pm at 2:35 pm |
  19. LLT

    Tax cuts don't work...same old same old!!

    February 2, 2009 02:36 pm at 2:36 pm |
  20. Lilarose in Bandon, Oregon

    I am glad to hear that $300 per senior, disabled, others who can't work is a new possibility in the stimulus bill.

    Our first stimulus bill did not include people on social security until there was outrage about it, including from me.

    I worked from age 13 until I became disabled at age 55. Often I worked 2-3 jobs at a time. I raised two girls on my own, put myself through college on my own (loans, grants–thanks, Sen. Pell–work/study 30 hrs a week).

    I have had two foot surgeries, one knee arthroscopy (need a replacement now), and one knee replacement.

    We seniors and disabled will spend the money at stores, you betcha.

    February 2, 2009 02:36 pm at 2:36 pm |
  21. Matt

    GOP: "Quick, a Dem was elected president....get rid of as much income tax revenue and gov't capital as possible so he can't do anything while in office!!! Then, in 2010, we'll claim he was ineffective and got nothing done!!! And in 2012, if we land the POTUS again, we can go back to borrowing from China and start a new war!!!!"


    February 2, 2009 02:36 pm at 2:36 pm |
  22. tim

    Sounds better than a new welfare program for the lazy.

    February 2, 2009 02:37 pm at 2:37 pm |
  23. KC

    Ok...we're headed in the right direction; however, let 's cut some (not all) out of the tax cuts and add it to the infrastructure and the housing crisis. This plan actually helps those who currently work or were working before the layoffs and the small and mid-sized businesses who employ a vast number of Americans.

    February 2, 2009 02:37 pm at 2:37 pm |
  24. Thomas Paine

    This is the first time I can recall that the Republicans have without being brought kicking and screaming supported extending unemployment insurance, foods stamps and etc..
    These are the people who's economic policy got us into this mess, now they want us to believe that they can cure the problem they caused.
    If you believe that the Republicans can solve our economic mess they got us into, then you also believe in the tooth fairy.

    February 2, 2009 02:38 pm at 2:38 pm |
  25. cat

    430 billion in tax cuts...Give us jobs instead of tax cuts for the rich, they don't need them. they are not struggling like the poor and middle class.
    Republicans only care about what is in the best intrest of the RICH
    They must be in their pockets.
    JOBS, JOBS, JOBS shout it from the mountain tops.

    February 2, 2009 02:39 pm at 2:39 pm |
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