On Fox News Discussing the Automotive Rescue Plan and the Incoming Obama Administration

Transcript: 
... possible auto bailout and how congress will work with the incoming obama administration. joining us, two men who will have a big say, house majority leader steny hoyer and the republican leader john boehner. let's start with the question of the economy. president-elect obama said his first order of business once he becomes president will be a big economic stimulus package to get the country working again. congress hoyer, how big? >> we offered a $61 billion which passed the house in late september. the senate considered that and rejected it. there was discussion about a $100 billion package this past week. but it needs to be large enough so that we can give some help to those who -- >> $300 billion, $500 billion? >> i'm not talking about numbers right now, chris. we're going to have to determine that. but clearly, we need to have stimulus and help for those -- not the big corporations, but those struggling with losing their jobs, losing their ability to put food on their tables. >> president-elect obama said he would like a package to sign shortly after he takes office. he'd have to be working with you before he's sworn in. >> as david axelrod said, we're working right now to address that. >> with the obama team? >> with the obama team, which is not fully in place, but we're working with the obama team and we expect to have during the first couple of weeks of january a package for the president's consideration when he takes office. >> does this give you just tremendous heartburn, congressman boehner? >> no, i think american families and small businesses are struggling. i put an economic stimulus plan out six or eight weeks ago that basically says if we're really serious about creating jobs, we ought to do is we ought to eliminate the capital gains tax for the next two years on any equities that are purchased. why not lower capital gains taxes for -- and corporate income taxes for corporations in america to help keep jobs here? if we're really serious about creating jobs in america, why wouldn't we do the american energy act or all of the above plan that will create a million new jobs over the next five years and keep more of our energy money here in the united states. >> what about ideas that you heard president-elect obama talk about infrastructure projects, billions of dollars to get people working, aid to states for their various expenses? >> i don't think we want to empower government here and keep bureaucrats employed. i think what we want to do is to help all americans. i think infrastructure may have a place in this package, but we're doing a big highway bill this coming year. why not reserve that infrastructure money for the highway bill and do it in the right way. but if we want to create jobs now, we want to create certainty now, why wouldn't we lower taxes and if we really want to help the economy, why wouldn't we have the president-elect say i am not going to raise taxes on any american in my first two years in office. >> that's a very interesting question. and i have to say since i asked it that david axelrod left it wide open. would you agree that maybe you should delay for a couple of years the tax increases? >> president obama has said and we agree that we will lower taxes on 95% of americans who are hurting, who are struggling, who are having a hard time. very frankly, john's answer to every problem has been lower taxes. that was the program in '01, '03. we've had one of the worst economies since herbert hoover. we need to invest in our people now. we need to help those who are unemployed. we passed unemployment insurance. we need to put food on people's table, make sure they have the availability of health care and invest in infrastructure now. the states need that. local governments need that. and what it does is it creates jobs now. where? in america. >> if you were to lower taxes -- >> john, let me finish. >> you said that in '03. >> it helped our economy. if you lower taxes, you don't have to wait for the money to get to the states. the money to get out in contracts. you send a signal immediately, and so businesses start making decisions. >> all right. we have heard -- it's going to be a debate we're going to have, but i want to move on. there are a lot of subjects to discuss here. the auto bailout, the three big ...