One example of something I think ought to be considered is tax relief. Republicans, by and large, think tax relief is a great way to get money to people immediately. One possibility is to take a look at the 25 percent rate currently applied to the middle class and lower it to 15 percent. Concerning money to states, one approach we ought to take a look at is to loan money to states, rather than grant it. There are some states that are in good shape, so why should we automatically provide funds to states that don’t want it?
As far as the yet-to-be-written Trillion Dollar Spending bill is concerned, If we want to do a bill immediately, my recommendation is the omnibus appropriations bill. This bill is ready to go right now and would spend $400 billion. It contains the nine appropriation bills from last year that have already been vetted. It has been looked at by both Democrats and Republicans and could pass, on a largely bipartisan basis, very quickly. Much of that spending is related to the kinds of items that may well end up in the trillion-dollar spending package. So that’s a place to start.
I don’t think we have to delay the stimulus package for a lengthy period of time, but there are ideas that ought to be considered. If Democrats pursue a fair process and give both sides an opportunity to have input, we can achieve a bipartisan result.