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"Is the Bush Economic 'Stimulus' Plan Effective, Fair, and Fiscally Responsible?"
"Even according to the Administration's own analysis, the proposals would have a negligible effect on economic activity during 2003 and would reduce job growth after 2004."
- Peter Orszag, The Brookings Institution
"President Bush's new tax plan is an answer in search of a question."
- William Gale, The Brookings Institution
"The tax cut President Bush is proposing would put only $50 in my pocket - for the entire year. Less than one dollar a week."
- Frank Greene, Seaside Heights, New Jersey
"If I succeed in my job search and find work that pays me as much as I earned last year, the Bush plan would provide me with a tax reduction of about $500�When I learn that millionaires will receive tax cuts of $90,000 under President Bush's plan, I know that the plan wasn't designed for a middle-income person like myself."
- Kevin Douville, Arlington, Virginia
"President Bush seems to have decided that the biggest problem facing America today is that the rich don't have enough money."
- Robert McIntyre, Center for Tax Justice
"The proposal will diminish states' ability to provide services to those citizens who need them the most; those same citizens, with the greatest needs, get the least in direct relief."
- Nancy Farmer, Missouri State Treasurer
"The Administration has said the plan is intended to promote economic growth and job creation. But when states must cut programs to balance their budgets, they lay off workers, reduce payments to contractors, cut reimbursements to providers, or lower benefit payments to individuals. This reduces the money people have to spend and thereby decreases demand for private sector goods and services."
- Iris Lav, Center on Budget and Policy Priorities
Transcript
For a full transcript of the hearing click here.
Testimony Highlights
DPC Hearing Testimony: Stimulus Plan Would Cause Future Job Losses, Would Not Promote Economic Growth
Opening Statements
Senator Byron L. Dorgan
Chairman, Democratic Policy Committee
Representative Nancy Pelosi
House Democratic Leader
Senator Paul Sarbanes
Ranking Member, Senate Banking, Housing, and Urban Affairs Committee
Senator Kent Conrad
Ranking Member, Senate Budget Committee
Representative John Spratt Jr.
Ranking Member, House Budget Committee
Senator Tom Carper
Senator Jon Corzine
Senator Frank Lautenberg
Senator Mark Pryor
Panel One
Peter Orszag, The Brookings Institution
Chris Edwards, The Cato Institute
William Gale, The Brookings Institution
Panel Two
Frank Greene
Kevin Douville
Panel Three
Robert McIntyre, Citizens for Tax Justice
Nancy Farmer, Treasurer, State of Missouri
Iris Lav, Center on Budget and Policy Priorities
DPC Documents
The Administration's Economic Stimulus Plan: Ineffective, Fiscally Irresponsible and Unfair
The Bush Administration's Ineffective Plan Won't Stimulate the Economy
The Bush Administration's Economic Stimulus Plan is Fiscally Irresponsible
The Bush Administration's Economic Stimulus Plan is Unfairly Targeted
National Editorials Criticize President Bush's "Stimulus" Proposal as Ineffective, Unfair and Irresponsible
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