Pelosi Aims for Second Stimulus by Year-End
House Speaker Nancy Pelosi on Thursday called for a two-part economic stimulus package that would include up to $100 billion in aid by the end of the year, followed early next year by some form of permanent tax cut, according to a published report.
Pelosi (D., Calif) told
The Wall Street Journal
that she hoped to get a "two month jump" on the aid by passing something during the lame duck session of Congress that begins this month. Democrats, however, would take a "longer view" once the party and president-elect Barack Obama take over in January, she said.
The speaker said she preferred a payroll tax cut over a rebate, like the first round of stimulus, or capital gains tax cuts favored by Republicans.
She also said she was inclined to assist the struggling U.S
, as long as government assistance goes towards fostering competitiveness. Automakers like
General Motors
(GM) - Get Report
and
Ford
(F) - Get Report
have already tapped the
Federal Reserve's
commercial paper funding facility for access to much-needed capital.
This article was written by a staff member of TheStreet.com.
