Obama to Unveil $300B Tax Cut

By Polly Davis Doig,  Newser Staff
Posted Jan 4, 2009 8:03 PM CST
Obama to Unveil $300B Tax Cut
President-elect Barack Obama walks to his plane at Chicago Midway Airport, Sunday, Jan. 4, 2009 as he prepares to leave for Washington just weeks away from becoming the 44th president.   (AP Photo/Lawrence Jackson)

Moving to get congressional Republicans on board with his economic stimulus plan, Barack Obama is eying a whopping $310 billion in individual and business tax cuts, reports the Wall Street Journal. The cuts, which dwarf both of President Bush's and could have a much more immediate impact, would make up some 40% of Obama's $775 billion stimulus—a sum much greater than expected on either side.
(More President Obama stories.)

Get breaking news in your inbox.
What you need to know, as soon as we know it.
Sign up
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X