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DeLay says Congress may add to Bush planBut Hastert says package shouldn't be bigger
From Ted Barrett
WASHINGTON (CNN) -- House Majority Leader Tom DeLay said Wednesday he considers the roughly $674 billion price tag on President Bush's proposed economic stimulus package "the floor, not the ceiling" and said he hopes to add additional tax cuts to the package. The Texas Republican spoke at a news conference with House Speaker Dennis Hastert, R-Illinois, who said the House would work to pass a bill no larger than what President Bush proposed. DeLay would not say how big he thinks the package should be, arguing the size is not as important as the reforms in the tax code that might come in a stimulus bill. Asked if the price tag could top $1 trillion, DeLay responded, "Who knows?" "This size of the package means nothing, because what we're after is the results of what comes from reforming the tax code -- and creating an environment for people to create jobs -- and revitalizing this economy in a very short period of time," he said. Additional tax cuts, lawmakers say, could include adjustments to 401K rules, an increase in the $3,000 limit on the amount of stock losses that a person can write off on taxes, and a two-year holiday on capital gains taxes. The House Ways and Means Committee passed the first two proposals last year but they were not considered by the full House. The capital gains holiday is a new proposal from Rep. Chris Cox, R-California. An aide said DeLay is open to other proposals as well. Neither Hastert nor DeLay would say how long it will take the House to pass the bill. Hastert said it will go through the committee process and will be open to amendments. "There may be some things we think will make the bill better," Hastert said. "It certainly will be in consultation with the White House. But, you know, the president set the limit and I think that's what we're going to work for." At that point, DeLay stepped forward and said, "I see the president's package as the floor, not the ceiling." DeLay said it could take months to get the package through Congress because he expects Senate Democrats will try to filibuster the bill. Asked if a short-term stimulus bill will lose its punch if put off for months, DeLay said no. "Listen, we came into the majority eight years ago not just to stimulate the economy in the short term, we came to reform the tax code. In this particular case we're getting a twofer. We're getting stimulus, we're getting growth, and we're getting long-term tax reform."
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