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Critics Say GOP Economic Stimulus Plan is Nothing Less than Profiteering...

Between The Lines' Scott Harris spoke with Bob Borosage, co-director with the Campaign for America's Future, who critically examines the corporate giveaways included in the House bill which his group has characterized as "profiteering in the name of patriotism."
Critics Say GOP Economic Stimulus Plan is Nothing Less than Profiteering in the Name of Patriotism

Interview by Between the Lines' Scott Harris.

With the highest unemployment rate in a decade, a falling stock market and consumer confidence in decline, the U.S. economy is heading for a deep recession. The terrorist attacks of Sept. 11 aggravated an already shaky economy and motivated both the White House and Congress to propose economic stimulus packages.

But a bill recently passed by the House of Representatives has been widely criticized for what many observers say is an unprecedented tax giveaway to the nationís wealthiest corporations while virtually ignoring the plight of laid off workers. The legislation which narrowly passed the House repeals the alternative minimum tax, making the measure retroactive for 15 years. If signed into law, the nation's largest companies would reap substantial rewards. IBM would get $1.4 billion, General Motors $833 million and General Electric would gain $671 million. The Senate will soon consider their own economic stimulus package.

Between The Lines' Scott Harris spoke with Bob Borosage, co-director with the Campaign for America's Future, who critically examines the corporate giveaways included in the House bill which his group has characterized as "profiteering in the name of patriotism."(A RealAudio Version of this interview may be found At www.btlonline.org) .

Contact the Campaign for America's Future by calling (202) 955-5665 or visit their Web site at www.ourfuture.org

To receive Between The Lines Weekly Summary and/or Q&A, email btlsummary-subscribe (at) topica.com and/or btlqa-subscribe (at) topica.com
 
 

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