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Business men and republicans have dismissed the Barack Obama's policies to stimulate growth while deducting taxes on companies as populist and that he has failed to do so. Obama however came up with a trio of proposals aimed at powering up the economy other than to counter the attacks. The best proposal is to deduct the cost of investment on businesses against their taxes. This idea would improve the investment plans to 2011. The effect of this will be muted by low interested rates and the worry of businesses to have a weak demand than their cost of capital.
What the Obama government has to do is make 50 billion dollars plan to start transportation projects look like something different other than just stimulus that is like job creation or an investment in infrastructure. However the proposal is both but a clue that it is stimulus may be enough to kill it in the current state of politics. Both the House of Republican leader and senator GOP leader termed it as a last minute stimulus bill. Considering the tax hikes senate GOP leader McConnell said it was worse yet financed with multi billion taxpayers money.
McConell said that the government needed some news to talk about on Labor Day weekend and to show the public that it was taking the issue of unemployment seriously. This plan however calls for a first year in government project which will include 50 billion dollars to repair or build 150000 miles of roads 4000 miles of railway and 150 miles of airport runaways. This government says that it will create more jobs and increase the economy growth rate and future productivity.
According to the government, the project will get its fund from phasing out the oil and gas depletion allowances and also a manufacturing-tax reduction. However, the republicans feel that allowing any tax loophole to expire is a job killing tax hike.
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The measure of infrastructure would be completed with the huge six-year transportation bill, which expired in 2009 and still must be reauthorized. Congress has kept on passing temporally extensions. The Obama's plan is to use both public and private money to finance the transportation projects. If a bill is passed in the house it must be paid for but for this time, by the time the congress gets to it it will be a problem to the Republicans. This idea is highly supported by big state governors and also owes its support from some congress members. If this idea is done right, the nation's huge backlog of infrastructure repair will be a big step for the Obama government. However this might be hindered due to the political environment in the country.
Obama's government policies however encountered opposition from both the congress men and the republicans. Though if this was at normal times the congress would have granted this project. This however has opposition since the Republicans don't want Obama to have anything that might look as legislative victory in advance of the coming elections. Democrats on the other hand are leery of being trashed for spending projects that run up the deficit. Labeling something like the bank as "government-run" is at the moment not the best selling point. Obama as he said don't "just call it stimulus"
He has tried to work on these policies . he has provided job opportunities and has also worked on transportation projects and increased investment status in the nation.
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