- The Washington Times - Friday, January 9, 2009

The incoming administration and Congress are developing an economic stimulus plan of about $800 billion, which is supposed to create about 3 million jobs. The jobs will evolve from projects designed to rebuild and replace our roadways, bridges, dams and possibly runways. Schools will be upgraded. There could be substantial funding of energy projects, which will hopefully reduce our dependence on foreign oil.

We need quick turnaround projects ready to be implemented within 90 days of funding.

Unfortunately, about $300 billion of the $800 billion economic plan will go to tax cuts for individuals ($200 billion) and businesses ($100 billion) and not create jobs. The tax rebates parceled out in the spring of 2008 did not stimulate the economy because $66 billion of the $78 billion in rebates went into savings accounts or were used to pay down debts. Businesses might use the tax cuts to pay down debt and buy back stock.

The incoming administration should not put the $300 billion into tax cuts, but should use the entire $800 billion to create well-paying U.S. jobs while improving our infrastructure, upgrading school resources, promoting alternative energy programs, increasing domestic oil production and reducing the importation of foreign oil.

Donald Moskowitz

Londonderry, N.H.

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