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Are what are we going to see an official projection.
For -- -- impact social impact of the plan from you're not -- them.
No I think we're I think our plan is more reliant on the independent forecasts then.
What you want to -- anything -- like this can like a doctor -- did.
Just a couple of the of the main provisions here.
How did you come up with that with the balance between the spending part and the tax cuts.
How did you cope with that mix.
But He like anything else you want to hit the right balance.
I think the reason we went for higher payroll tax cut cutting it for workers.
Is that when we first cut the payroll tax cut in December of quality.
-- of course what we're gas prices three dollars and ten cents a gallon.
So now when you look at what typical families had to deal with higher gas prices higher food prices.
That payroll tax to help cushion.
But I think it also showed that that we -- -- you know help families.
Who are struggling just to pay their bills this be good for the pocketbooks for for families but it's good for the economy means more customers for the small businesses.
Gives them a chance to hire.
In terms of the small business tax -- side.
We looked on the employers' side and I think we just found a real difference between the situation very small companies and -- companies.
Large country companies are sitting on -- cash but they need is confidence.
Small businesses have really been hit by a perfect storm they're having trouble getting working capital loans.
The Carolina in their homes or their offices for the equity they might refuse to get financing for their inventory.
So we targeted.
The employer payroll tax cut cutting that to the 98% of businesses.
Who have payroll five million -- we think it will make a big difference to them responsible for the tax -- And in terms of on the infrastructure.
You look for places that you can get the money.
Out you can get jobs and momentum going which are also doing something worthwhile for a long term economy school modernization is a perfect example.
We know we got public schools and its many in bad shape and even some that are okay shape.
There's Spragan equity schools have science flat -- -- collapse if we -- get that money out quick.
Third of all schools 35000 schools across the country that's gonna put people work but it's also -- -- do something good for our children in the long term infrastructure bank.
-- ten billion in capital in.
What kind of leverage.
Do you think you get from that can you leverage that up you know ten to 120 -- one -- those are exactly what the estimates are because first saw even that and the war on.
Even the money that goes and can only cover 50%.
But its desired designed to leverage.
So yes people expect you think it you know at least and the war and we had we actually endorsed the bipartisan plan in the senate.
You know we we've seen that there's they are designed slightly different from what we put -- but we like it and senator Kerry's been able to work with Republicans like.
Kay Bailey -- that we've others like senator and often Lindsey Graham have an interest in the proposal.
So that was just also another chance for the president to reach out and say.
Or something bipartisan we can do.
We got the Republican governor Michigan's thing you want to see is more in infrastructure I've even heard Eric Cantor.
-- make some positive remarks about working on some of these things I think it's not true.
That just because you're doing some things that are putting construction workers back to work.
That they don't have -- the same chances the payroll tax cuts have.
Passed in helping our economy here so that you it potentially a hundred billion dollars if if -- plays out for of additional money.
Four infrastructure projects so it's about fifty billion to accelerate.
Highways rails transportation.
And -- we have about thirty billion for school modernization.
For 35000 schools roads with the investment about the investment bank leveraged with a behind on our area.
You can never get up to a hundred billion the cost to the federal government is ten billion but what you're really doing is helping just cover some of the the risk it's a little bit of -- likely to sign -- -- loan loss write some equity and we I think and the one is actually conservative I think many people think including some of our jobs -- some of our business leaders believe that you could get twenty or that.
What -- one.
Paying for your buck last question paying for we have the president the president wants -- the deficit commission that the super committee.
To pay for it.
Paying for this 447.
Billion we'll be.
Closing the loophole tax loopholes.
Asking the hiring from artist to pay more.
Spend and spending cuts or how's how's this package going to be paid for.
The president is gonna is gonna put out the details over the next couple weeks of both food jobs that power paying for and hours and -- the rest are desperate action.
I wanna be clear the president is not just saying the -- committee.
Hey you guys go find a mixture of 450 billion dollars.
We're telling them of course they need to do that but it's of incumbent upon us to put out the specifics.
How we would do that and and we have the details were working on that now will present them.
And of course when you're doing -- reduction that everybody will be happy the president at this -- last night is -- democratic congress that.
We can't afford not to do some moderate adjustments -- even programs like Medicare Medicaid that the president cares about.
But you need balance and balance means yes asking.
For higher taxes from those were most -- office can afford it but it's also means deal with entitlements and other spending -- party scene.
-- you've seen the details you'll see that will cover the jobs -- and meet the president's goal of offering their debt as percentage or economy.
Putting that downward path once again -- Gene Sperling thanks for joining us business thanks so much.
Back to you in New York.
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