Boehner proposes economic plan with election a week away

WASHINGTON — House Minority Leader John Boehner unveiled a new Republican proposal on Tuesday designed to spur job growth with less than a week left in political campaigns dominated by economic troubles.

The current financial crisis has been a boon for Democrats, who are poised to win at least 20 House seats and possibly the presidency. Boehner hopes to stop the bleeding by promoting a traditionally Republican series of tax cuts, countering the Democrats' push for an economic stimulus plan.

"Elections, as you know, are about choices," the Ohio Republican said in a conference call. "We want to make sure there's a very clear choice out there."

Boehner's plan doubles the child tax credit to $2,000, reduces the corporate tax rate from 35 percent to 25 percent and eliminates the capital gains tax for the next two years. It also calls for more domestic energy production, including fewer restrictions on offshore drilling.

The push for tax cuts is largely in line with policies that Sen. John McCain has advocated during his presidential campaign.

Republicans have struggled to find a consistent economic message in the midst of rising unemployment, market volatility and historically low consumer confidence.

Several conservatives seized upon Sen. Barack Obama's recent comment that government should "spread the wealth around," and Boehner said Republicans will keep more money in citizens' hands.

"Americans are overtaxed and their wallets are stretched thin," he said. "They don't trust Washington, and frankly, I don't blame them."

Former House Speaker Newt Gingrich implored House Republicans to rally around this theme.

"Take a deep breath, bring in your campaign manager and consultant, and change all of your messaging — radio, TV, telephone, direct mail, speeches, debates — to this core choice," he wrote in an e-mail. "If enough Republicans hammer home this message, the results will be very different in ten days than people expect."

David Wasserman, an editor at the Cook Political Report, said releasing a proposal one week before the election is too late to swing congressional contests.

"You can't get voters' attention when there's a presidential race overhead," he said.

It's unclear how much tax revenue would be lost under Boehner's plan. Republicans say the Democrats' stimulus package could carry a price tag of up to $300 billion, but a spokesperson for House Speaker Nancy Pelosi said it would cost far less.

Although not yet finalized, the Democratic proposal will likely include more infrastructure improvements and unemployment benefits.

Congress passed a $168 billion stimulus measure in February, but the threat of a White House veto killed a second, $61 billion plan passed by the House in September.