Inhofe, Rice talk money
Economy heats up U.S. Senate race

BY MICHAEL MCNUTT

Published: October 15, 2008

TULSA — U.S. Sen. Jim Inhofe used a forum Tuesday arranged by business leaders to announce his plan to get the nation’s economy back on track while his Democratic challenger described himself as middle-of-the road on business issues.

Inhofe, R-Tulsa, and state Sen. Andrew Rice, D-Oklahoma City, appeared separately for about 30 minutes apiece to speak and take questions from about 150 gathered for the event sponsored by The State Chamber.

Independent candidate Stephen Wallace, a real estate developer from Tulsa, also spoke.

The speaking order was determined by a chamber official pulling names from a hat, and the event was set up so none of the candidates would have to appear together at the forum, held in a banquet room of a downtown Tulsa hotel. Rice spoke first, followed by Inhofe and Wallace.

Inhofe arrived a couple of minutes after Rice spoke and went up to him in a lobby to say hello and shake his hand, while Rice was talking with reporters.

Rice told those attending he supports certain tax cuts and opposes a windfall-profits tax. He said he would focus on energy and health care as well as redeploying troops out of Iraq and into Afghanistan during his first 100 days in Washington.

Elected to the state Senate in 2006, Rice said he was able to work with Republicans when the Senate makeup was divided equally, 24 to 24. He would use that same approach in Washington, he said.

"I pride myself on doing what is right for my district and for the state of Oklahoma, whether it’s politically popular or not,” Rice said.

During his presentation, Inhofe, with the help of several slides, announced his economic recovery plan, which would divert a portion of the recent $700 billion Wall Street bailout to the FDIC and the Federal Reserve to shore up the banking system and money markets.

His plan also includes making the 2001 and 2003 tax cuts permanent, relaxing limits on individual retirement account contributions and temporarily eliminating the capital gains tax.

Comments