The Obama administration is considering a range of new measures to boost economic growth, including tax cuts and a new nationwide infrastructure program, according to people familiar with the discussions.
The president's economic team has met frequently in recent days to list ways to bolster the struggling recovery, according to government officials.
On the list of possible actions: additional tax cuts for small businesses beyond those included in a $30 billion small-business lending bill before the Senate. It's not clear what those tax breaks would target or how much they might cost in lost revenue to the government.
Also in the mix: a possible payroll tax cut for businesses and individuals, as well as other business tax breaks, according to people familiar with the discussions. Currently, income taxes are scheduled to rise with the expiration of Bush-era tax cuts at the end of this year.
And Benen notes that they don't want to label this "stimulus." I don't blame them.
Of course the thing that jumped out for me was the "nationwide infrastructure program." According to our trusty multiplier table, every dollar spent on infrastructure return a whopping $1.57 in economic stimulus. That's on the high end of the scale. Not only that but our infrastructure sucks (as a road cyclist I tend to see it up close and more slowly than in a car).