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Barack Obama

Senate Republicans float stimulus alternative

WASHINGTON (Reuters) - A group of Republican senators on Tuesday offered a $445 billion alternative plan to boosting the ailing economy, about half of which would be in the form of tax cuts.

The stimulus package would include cutting payroll and income taxes for a year, as well as lowering the 35 percent corporate tax rate to 25 percent and offering home buyers a tax credit worth $15,000 or 10 percent of the purchase price, whichever is less.

Sens. John McCain, John Thune, and Mel Martinez were among the group of lawmakers offering the alternative to the $885 billion package crafted by Democrats who control the Senate.

Reporting by Jeremy Pelofsky, Editing by Eric Walsh

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