Carper Defines Principles for Stimulus Plan

WASHINGTON, DC – Senator Tom Carper today said that any economic stimulus plan passed by the Senate must meet three guiding principles to be successful. A successful plan would restore consumer confidence, increase business investment, and help those suffering most from the current economic downturn. Carper compared these principles to the “litmus test” he imposed when considering tax cuts during his time as Governor of Delaware. In his eight years as the state’s Chief Executive, Carper cut taxes seven years in a row. Senator Carper delivered the following statement from the floor of the Senate on Wednesday evening: “My colleagues have heard me say any number of times, reflecting back when I was Governor of Delaware, how we put in place a litmus test to consider proposed tax cuts. Our litmus test was that the proposed cuts should be fair and that it should stimulate the economy and create jobs. They should simplify the tax code. They should be consistent with a balanced budget. We need a similar set of guiding principles here as we debate this stimulus package before us. As it turns out, there is a set of guiding principles. I just want to mention those briefly in closing. One of those is that we should, by our actions, restore consumer confidence. The proposal set forward by Chairman Baucus and I believe by Senator Grassley as well provides for rebate checks to 45 million Americans who did not get them. That will simulate consumer demand. Another principal is that we increase business investments. Again, with the proposal given to us by Senator Baucus we stimulate business investments – for businesses both large and small. We need to do that. Third, we should help those people most in need [suffering in this] economic downturn. With this package, we do that as well.”