GOP to unveil new “Contract with America” on Thursday

The new contract, modeled after the 1994 “Contract with America” — credited with helping Republicans win the House in 1994, which they held until 2006 —is intended to highlight what the Republican party would stand for if it were to return to power in Congress. For much of the last two years, Republicans have won points from voters chiefly by opposing the Obama administration’s agenda.

GOP leaders have already hinted at some of the ideas that could be included. 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.