–Senate Majority Leader Says Obama’s Plan Is ‘Reasonable’
–Fears Tea Party Wing Of GOP Is ‘Rooting’ For Econ Woes
–Urges ‘New Day of Cooperation and Compromise’
By John Shaw
WASHINGTON (MNI) – Senate Majority Leader Harry Reid said Friday
that Democrats and Republicans in Congress should work closely with the
Obama administration to fashion and pass an aggressive jobs program
along the lines of the one recommended by President Obama.
In remarks on the Senate floor, Reid praised Obama’s plan as
representing a “reasonable, common sense approach” to boosting economic
growth and job creation.
He said that the Senate will take up a jobs package “as soon as
possible.”
The president’s plan, Reid said, draws from legislative proposals
developed by both Republicans and Democrats.
“I hope a new day of cooperation and compromise is dawning,” Reid
said.
The president unveiled a $447 billion package Thursday night that
includes $245 billion in tax cuts, $140 billion in spending initiatives
and $62 billion for assistance to the unemployed.
Reid said the American economy has been “rocked” by this summer’s
debt limit crisis and then the S&P downgrade, but can be steadied if
Congress and the White House pass a sound jobs plan.
He said the Tea Party wing of the Republican Party is “rooting for
our economy to fail” for “political reasons.”
Both House Speaker John Boehner and House Majority Leader Eric
Cantor said Thursday evening that there are elements of Obama’s plan
that they can support.
Senate Minority Leader Mitch McConnell has been far more critical
of Obama’s plan, saying it represents a repackaging of earlier, failed
initiatives.
McConnell and other Republican leaders have said a jobs agenda
should focus on reduced regulations, corporate tax reform, approval of
three pending trade agreements, and cutting the size and scope of the
federal government.
** Market News International Washington Bureau: (202) 371-2121 **
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