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House Minority Leader John Boehner (R-Ohio), for instance, has called for a two-year freeze in tax rates and a reduction in spending to 2008 levels. President Obama and Democratic leaders want to extend most tax cuts, but would raise taxes on families with incomes above $250,000 annually and individuals who earn more than $200,000 a year.
Also in the contract could be a push for repeal of the president's health care reform law and a drawback of Wall Street reform rules.
Democrats welcomed the plan, mocking Republicans for announcing it with less than two months to go before the election.
"Washington Republicans are finally getting around to releasing an agenda for this Congress. What's shocking is that it took them more than 20 months to repackage a plan that's no different from the one that caused the Great Bush Recession," Doug Thornell, a spokesman for Rep. Chris Van Hollen (D-Md.), chairman of the Democratic Congressional Campaign Committee, told The Hill.
The original contract, unveiled by Republicans in 1994, is said to have helped the party gain control of Congress for the first time in 40 years.
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