Giannoulias unveils economic plan

October 26, 2009 2:35:25 PM PDT
U.S. Senate Candidate Alexi Giannoulias unveiled the first part of his economic plan Thursday. The Democrat is currently the Illinois State Treasurer.

He claims his plan will rebuild and reform the nation's economy.

Giannoulias wants to extend the tax credit for first time homebuyers for another year and he is proposing a one year payroll tax holiday for low and middle income workers. He also likes a tax credit for small businesses that create jobs.

Giannoulias says he has a plan to pay for it all.

"By eliminating the loophole for companies that ship jobs overseas, we'll offset the cost of this program. We'll save just over $200 billion over the next decade that can be used to pay for these programs," Giannoulias said. Giannoulias' main opponent in the Democratic primary is Cheryle Jackson.


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