Here's a peek at the major planks in the economic recovery plan being introduced by House Republicans tomorrow.
It starts with a permanent five percentage point reduction for those who qualify for the 10% and 15% tax brackets, averaging about $500 per year for the poorest of the bunch and $1,200 for the slightly more wealthy.
The talking point here is that poorer Americans would see more money from the GOP plan than from Obama's -- and it would be permanent. Republicans will also propose to allow small businesses a 20% tax deduction, which would give them much-needed cash to hire, to retain jobs, or to invest in new equipment. Also: Republicans would remove the tax on unemployment benefits, which would, in theory, increase the size of the benefits. To stabilize the housing market, Republicans would give home-buyers a $7,500 tax credit for those who make a minimum downpayment of 5%.
That some Democrats could find their way to support these four proposals is feasible.
The next propsoal is political: Congress would hamstring itself by promising not to raise taxes to pay for future deficits.
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