House Democrats have unveiled their proposal for economic stimulus. Here’s mine.
I’m sympathetic to a proposed requirement that any bill be read in its entirety on the House floor before representatives are asked to vote on it. Were I a member of that legislative body, I would be inclined to vote “no” on any proposal that I had not personally read. Such a rule makes my position on the 647-page American Recovery and Reinvestment Act of 2009 an easy call.
For what it’s worth, here’s my alternative stimulus bill, background motivation for which can be found here:
(a)The Secretary of the Treasury is hereby authorized and instructed to borrow a sum of $200 billion and distribute the proceeds no later than May 30, 2009 as follows. The funds shall be distributed to the 50 states proportional to population reported in the most recent available Census data, as a supplement to each state’s general funds.
(b)In authorizing this Act, Congress is hereby signaling its intention to raise federal taxes by May 30, 2019 to a sufficient degree to repay all principal and interest due on the debt that is incurred by the Treasury as a result of implementing provision (a).
Maybe some more legal-minded readers will have ideas about how to fluff that up some. But I don’t see how it could get longer than 2 pages.