After watching the economy swing toward recovery then sputter then grind to a halt, the Obama administration is reportedly -- finally -- drafting a new legislative proposal meant to spur job growth, two months before the midterm elections in November. None dare call it stimulus, but the package, according to The Washington Post, will be designed to appeal to Republicans. It could include a payroll-tax holiday and an extension of the recently expired research-and-development tax credit, and could cost hundreds of billions of dollars.
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The reaction on the Hill hasn't really materialized yet -- members are still away on recess, and the proposal hasn't been widely circulated. But the prospect of tax cuts must have Republicans giddy with anticipation, right? Maybe.