Focus Point - A Tale of Two BillsCommentary by Pete du Pont
November 19, 2001
I'm Pete du Pont with the National Center for Policy Analysis. Today, a tale of two bills.
The senate is debating economic stimulus legislation: Democrat Tom Daschle's bill to spend more and cut taxes a little, and Republican Charles Grassley's bill to cut taxes a lot and edge up spending.
According to detailed analysis by the Heritage Foundation, guess which one's better?
In fiscal 2002, the Grassley Plan produces nearly twice as many jobs, and consumer spending increases almost 30 percent more than Daschle's would. The average family of four would see their savings go up by about $750 with Grassley's bill, compared to about $540 under the democrat's.
The real news, though, comes when you look at the bills' cumulative impact through fy2006: the Grassley plan produces seven times more jobs each year.
And the nation's investments would increase an average of $13.4 billion yearly compared to Daschle's paltry $1.1 billion.
Cut taxes. Hold down spending. Who ever said this was rocket science?
Those are my ideas, and at the NCPA we know ideas can change the world. Visit the ncpa website at http://www.ncpa.org/. I'm Pete du Pont. Next time, religous freedom.