We’ll get more details in the speech later today, but that’s what the preview looks like:
Hoping to break an impasse, President Barack Obama today will extend a new offer to congressional Republicans in which he would back an overhaul of the corporate tax system in exchange for a guarantee that a resulting one-time windfall be used to underwrite various job creation proposals.
Mr. Obama will lay out the plan in a speech he is to deliver in Chattanooga, Tenn., in a bid to win over Republican lawmakers who’ve opposed White House requests for new spending on roads and bridges and other projects aimed at boosting employment.
What we need is tax simplification across the board — not just cuts for business. And I suspect the Democrat side of the bargain is just more of the same shoveling tax dollars at Democrat interests we’ve seen the last few years. If that sort of thing created jobs, we wouldn’t have an employment problem at all.
The GOP would be smart instead to propose the Omnibus Do-Over Act of 2013, in which damn near everything enacted since 2001 is repealed. That’s eight years of Bush’s stuff to only five of Obama’s, and both sides would benefit from the resulting economic boom.