FXstreet.com (Barcelona) - Henry Paulson, US Treasury Secretary has stressed the need for agreement by the Congress and the administration on a package of tax cuts and other measures in order to reactivate economy, in a meeting to the U.S. Chamber of Commerce.
The legislation will involve tax rebates, business tax cuts and funding for employment aid., and according to Paulson such measures could be greed before the end of the winter.
Bush has recently released a plan which observes $150 million directed to tax cuts to individuals and businesses. Nevertheless the administration's plan has failed to strengthen economy, quite the contrary, as stocks markets plunged last Monday, on fears of recession in US economy.
Furthermore, Paulson affirmed that he has consulted policymakers in his country as well as abroad to assess that global markets have been moving turbulently since the credit squeeze hit for the first time.