03/28/2008 02:45 am ET Updated May 25, 2011

Paulson: Senate's Stimulus Plan Is Too Complex

Treasury Secretary Henry Paulson said on Thursday he was concerned that the $157 billion stimulus package passed by the Senate Finance Committee was too complex and he prefers the simpler House of Representatives version.

"Complexity is our enemy and I'm concerned that the bill that has come out of the Senate Finance Committee is already too complex. Once it gets on the Senate floor it's in danger of looking like a Christmas tree," Paulson told reporters at a news conference to highlight the Earned Income Tax Credit for low income workers.

Paulson urged swift Senate action on the bill but cautioned senators not to load the bill up with pet spending projects and more tax breaks. He said the House resisted that temptation and its bill was simple, broad-based and bipartisan.

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