Is the White House really debating tax cuts vs. jobs?
The WSJ says so: The president’s economic team has met frequently in recent days to list ways to bolster the struggling recovery, according to government officials. On the list of possible actions: additional tax cuts for small businesses beyond those included in a $30 billion small-business lending bill before the Senate. It’s not clear what those tax breaks would target or how much they might cost in lost revenue to the government…. The White House is struggling with whether to propose ideas that would appeal to Republicans, and thus get support on Capitol Hill—such as tax cuts—or whether to promote ideas that officials believe could have more economic impact but might hit political resistance, such as more aid for states and more infrastructure funding. Just in case this isn’t the WSJ blowing smoke, and just in case the White House is having this debate, and just in case they’re looking for ideas: don’t look for ideas that will appeal to Republicans. Go for jobs. Go for infrastruc
