I had to duck in and out of the office early this morning, but I did have a moment to scan the headlines in the morning papers. Today’s edition of The New York Times includes an update, “Obama Seeks Wide Support in Congress for Stimulus“, on yesterday’s discussion of the proposed stimulus package.
“I thought the atmosphere for bipartisan cooperation was sincere on all sides,” Mr. (Senator Mitch) McConnell (R-KY) said after the meeting. The legislation, which Mr. Obama and his economic advisers discussed Monday, includes about $300 billion in tax cuts for workers and businesses. A part of the plan that was a centerpiece of the presidential campaign would provide credits of up to $500 for most workers at an overall price of $150 billion. The plan also includes more than $100 billion in tax incentives for business to create jobs and invest in factories and equipment.
With incentives to business for job creation and capital investment and a focus and investment on infrastructure improvements, the new administration and congress are talking like they may know a little about economic development. Add to that the discussion of elevating the skill levels of our workforce and we may just have a plan to work our way to sustainable prosperity.