Republicans present Obama with alternative jobs plan

Breitbart News
December 9, 2009

Republican lawmakers Wednesday presented President Barack Obama with their plan to tackle unemployment, proposing a freeze on tax hikes until the jobless rate falls below five percent.

Obama hosted both Democratic and Republican lawmakers at the White House to discuss the economic situation and unemployment, a day after he announced a plan to use funds left over from the so-called Troubled Asset Relief Program (TARP) to help tackle unemployment, which stands at 10 percent.

Republican oppose the dispersal of the public funds, which were originally set aside to rescue financial institutions, and want Obama to instead put the unused money towards a budget deficit that stands at 1.3 trillion dollars.

The number-two Republican in the House of Representatives, Eric Cantor, presented Obama with the “No-Cost Jobs Plan,” which suggests freezing tax increases and halting some public spending.

The plan also calls for more domestic production of energy, including oil, as well as corporate tax cuts intended to encourage firms to repatriate earnings collected abroad and the approval of pending free trade deals with Colombia, Panama and South Korea.

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