An Economic Recovery Amendment that Actually Stimulates
Representative Paul Broun, M.D. (GA-10) introduced an amendment to President Barack Obama's Bureaucrat Stimulus Plan that will allow hardworking taxpayers to keep their trillion dollars and actually stimulate the economy. Dr. Broun's amendment gives every American who files a tax return approximately $9K -- their share of President Obama and Speaker Pelosi's bureaucrat wish list.
"My amendment gives every tax filer their fair share of President Obama's bureaucrat stimulus plan. It's my belief that putting this money back in the pockets of hardworking taxpayers will do more to turn this economy around than spending it on 150 different federal programs, sod for the National Mall, or new cars for feds.
"Middle-class Americans are our nation's economic engine, and they know how to spend their money much more wisely than out-of-touch Washington bureaucrats. This point is most recently illustrated by President Obama's decision to spend $1 trillion on a plan that according to the nonpartisan Congressional Budget Office will not impact America's economy for many years, if ever.
"I urge President Obama and Speaker Pelosi to skip the pork wish list and work with my colleagues on a true economic recovery program that provides tax relief to small businesses and families and offers incentive-based relief for job creators," said Dr. Paul Broun.
The amendment would provide a stimulus check of equal monetary value to every legal resident of the United States that filed a taxable return for 2008.
The amount to be divided among each legal taxpayer is equal to the monetary size of the American Recovery and Reinvestment Act of 2009, as introduced.
For example, each legal tax payer would receive an $8,895.75 check assuming the legislation's cost is $825 billion divided by 92,740,927 taxable returns (number of taxable returns for 2006).
Reuters reports today:
"New CBO Director Douglas Elmendorf noted that direct payments to individuals and cutting federal taxes would have the fastest impact while spending could take longer for a number of reasons, including time required for contracting procedures and other planning needs. In the past for federal programs, there has been a noticeable lag' between big funding increases and spending, he said on the agency's blog."