Baucus Expresses Concern Over President’s Economic Stimulus Proposal
As the President's economic package is officially introduced in the House and Senate today, I once again must express my serious concern that the of the plan -- currently estimated at $695 billion – may take the country down the road toward ballooning deficits. In addition to increasing the debt, the current structure of the plan will provide little immediate stimulus to the economy.
Instead, I'm urging the Administration to be open to negotiations with Congress and consider provisions that will provide the economy with a shot in the arm, such as immediate aid to the states. The plan that I've put forward would send $75 million to our cash strapped states and would increase consumer spending through business expansion incentives. My plan would stimulate the economy in the short-run and foster fiscal responsibility in the long-run.
I look forward to working together with Finance Chairman Grassley, the Administration and Congress to ensure that any stimulus package we pass is effective, immediate and responsible and won't place a further financial burden on our states and the nation in the years to come.
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