This has flown under the radar a little bit: Obama is pushing a form of a state bailout that the GOP might not be able to oppose.
The idea is this: Thanks to extended unemployment and the exhausting of state bailout coffers, states need to start paying interest on borrowing from the government, and that means raising taxes on corporations. Obama wants to delay the states’ requirements to pay back their loans, and thus keep taxes low on companies.
Yes, that’s a state bailout, but as any GOPer would argue, this is NOT the time to be raising taxes on companies (or anyone else)… not when the economy is still so fragile.
The logic isn’t any different, really, than the extension of the Bush tax cuts, which is, kick the can down the road, and keep taxes low.
Can Republicans really oppose this?
Business Insider Emails & Alerts
Site highlights each day to your inbox.