Thursday, September 23, 2010

Meehan unveils economic recovery plan

Pat Meehan, the Republican candidate in the 7th Congressional District, laid out his economic recovery plan during a news conference on Thursday morning.

Meehan's seven-point plan includes:
1. Institute a payroll tax holiday for a period of six months
2. Reduce the capital gains tax to encourage investment, particularly on investments made during the start up phase of a business
3. Provide tax credits for businesses hiring their first or second employee
4. Encourage investment in America by reducing the corporate tax rate by 15 percent
5. Extend all tax relief from the 2001 and 2003 tax cuts
6. Eliminate the death tax that hurts family-owned businesses
7. Repeal and replace health care reform

Democratic candidate state Rep. Bryan Lentz, D-161, of Swarthmore, laid out his plan for economic recovery in early March.

Lentz's plan five-point plan includes:
1. Creating jobs through a capital investment tax write-off
2. Establishing a fiscal commission to erase the deficit and stabilize Social Security and Medicare
3. Adapting to a changing economy with education and training
4. Taking advantage of new economic opportunities in green energy and infrastructure
5. Holding Wall Street accountable and creating a consumer financial protection agency


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