By Alexander Bolton - 09/07/11 07:31 PM EDT
Sen. Mitch McConnellMitch McConnellOvernight Finance: House rejects financial adviser rule; Obama rebukes Sanders on big banks Senators roll out changes to criminal justice bill Sanders is most popular senator, according to constituent poll MORE (R-Ky.) signaled Wednesday that Senate Republicans would likely oppose a $300 billion economic stimulus package President Obama is set to unveil.
McConnell said more federal spending is not the answer to the nation’s persistent 9.1 percent unemployment rate, and that Obama would create more jobs if he delayed and repealed environmental regulations that Republicans say put a burden on businesses.
McConnell applauded Obama’s decision last week to delay strict new regulations curbing smog emissions.
“I think the president’s decision last Friday to delay the ozone regulation in all likelihood will produce way more jobs than anything he might recommend tomorrow night by way of additional government spending,” McConnell said. “So we’ll listen politely to what he has to say and take a look at it, but our view is that we need to go in an entirely different direction.”
Senate Republicans say Obama should send to Congress three pending trade agreements with South Korea, Panama and Colombia instead of proposing another round of economic stimulus spending.
Sen. John ThuneJohn ThuneAir traffic control plan faces tough fight ahead GOP blasts Obama for slow economic growth Overnight Tech: Business data deals on FCC agenda MORE (R-S.D.) said he wanted to hear “something different” from the president.
“What he’s been saying and what he’s been doing haven’t been working,” Thune said.
Senate Republican Conference Chairman Lamar AlexanderLamar AlexanderDemocrats block energy spending bill over Iran amendment Overnight Finance: Puerto Rico pressure builds; Big tariff vote Wednesday Senate votes to increase wind energy funding MORE (R-Tenn.) said Senate ratification of the three trade deals “would create $10 [billion] to $14 billion in new exports and put farmers and manufacturers to work selling overseas what they make and grow in the United States.”