The story

A group of Republican senators drafted an alternative stimulus measure that narrows government spending to infrastructure programs and helping unemployed Americans, addresses the housing crisis and relies mostly on tax cuts.

The $713 billion plan was put together by Florida Sen. Mel Martinez, who has been working with a handful of other GOP senators.

The proposal includes $430 billion in tax cuts, $114 billion for infrastructure projects, $138 billion for extending unemployment insurance, food stamps and other provisions to help those in need and $31 billion to address the housing crisis. Read full article »

CNN's Dana Bash and CNNMoney's Jeanne Sahadi contributed to this report.

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