This Week in Washington – Friday, September 17, 2010
This House was back in session following an extended six week long summer recess period. Unfortunately, Congressional leadership did not use this week to address what I believe is the most important issue currently facing every American taxpayer: the coming expiration of the 2001 and 2003 tax cuts.
If they are allowed to expire on January 1, 2011, the resulting tax hike that will be the single highest in American history. Estimates peg it at an increase of $3.9 trillion. A tax hike like that is simply unacceptable during a recession as painful as the one we're currently experiencing.
Washington has a spending problem, not a revenue problem. The threat of potential tax increases to pay for all of this spending introduces massive amounts of uncertainty into the private sector. America's small businesses are responsible for seven out of ten new jobs created. They simply will not expand and they will not hire if they are unsure of what the future holds or if they see increased tax burdens lurking around the corner.
I believe we must freeze all of the tax rates and – at a minimum – bring spending levels back to 2008, pre-stimulus levels. Let's end the over-spending and bring certainty back into the equation so the private sector can start creating jobs once again.
This Week
Yesterday, the House approved H.R. 2039, the Congressional Made in America Promise Act, with my full support. H.R. 2039 applies the "Buy American Act" to articles, materials and supplies used by Congress. "The Buy American Act" requires that the products purchased by the government be made in the United States unless they are unreasonably expensive, they are available in too small a quantity or purchasing them is inconsistent with the public interest. This is one way we can help make sure Congress is directly supporting American businesses and American workers.
Also yesterday, the House approved H.R. 4785. This bill would create a re-lending program allowing the U.S. Department of Agriculture to provide zero interest loans to rural electric cooperatives that in return would provide low interest loans to customers for energy efficiency projects. H.R. 4785 would create $5 billion worth of new federal government energy efficiency programs. I was unable to support this legislation because I am concerned the bill would duplicate existing programs, add to a ballooning deficit, and could pose significant implementation challenges for the USDA.
The House will be in session next week. Have a great weekend.
Sincerely,
