US | Fannie Mae Bush Ready to 'Push Hard' for Biz Tax Breaks But he knows it's a tough sell By Heather McPherson Posted Aug 9, 2007 7:04 AM CDT Copied President Bush, right, accompanied by Vice President Dick Cheney, delivers a statement after meeting with his economic advisers, Wednesday, Aug. 8, 2007, at the Treasury Department in Washington. (AP Photo/Evan Vucci) (Associated Press) President Bush is considering a new package of corporate tax breaks in a bid to perk up Wall Street, calm volatile markets and send a message the economy is sound, the Washington Post reports. At the same time he rejected Democratic proposals to allow Fannie Mae and Freddie Mac more leeway to buy mortgages to bolster the shaky housing market. "If we want to be a competitive nation, we've got to analyze a lot of things, including taxes," Bush said. "I'm inclined to want to push hard." Treasury Secretary Henry Paulson released a paper last month suggesting the corporate tax rate could be reduced from 35% to 27%. Any such proposal is likely to meet stiff resistance from Dems. Read These Next Trumps ends trade talks with Canada. Actor Sam Rockwell gets residuals from movie he wasn't in. The Bezos-Sanchez wedding: guest list, cost, the dress, and more. Gavin Newsom has filed a massive lawsuit against Fox News. Report an error