This Week in Washington – Friday, September 24, 2010
This week my conservative colleagues and I put forth a new governing agenda. It's called "A Pledge to America," and it was developed by listening to the American people – something that hasn't been happening in Washington recently. The agenda emphasizes job creation, ending the federal spending spree and reforming Congress.
The new Pledge embodies Americans' rejection of the now-thoroughly discredited notion that we can simply tax, borrow and spend our way to prosperity. To help our economy create jobs, we must stop all of the coming tax hikes, cut spending, and begin a drive for smaller, less costly government.
Through this agenda, we are re-committing ourselves to principles of smaller, more accountable government; economic freedom; lower taxes; fiscal responsibility; protecting life, American values, and the Constitution; and providing for strong national security. All of these issues and policies have been severely lacking under the current Congressional leadership.
The full document can be viewed here. I encourage you to take a look.
This Week
Yesterday, the House approved a Senate-amended version of H.R. 5297, the Small Business Jobs and Credit Act, despite my strong disapproval. Modeled after the original TARP bailout program, the bill creates another bailout fund established with $31.5 billion of taxpayer money. The bill also amends multiple tax provisions affecting small businesses, which the Joint Committee on Taxation estimates will result in a net total tax increase of $2.419 billion over 10 years.
As I did during debate on the original version of this bill back in June, I went to the Floor of the House of Representatives to speak against this costly and inefficient piece of legislation. The truth of the matter is this is just another bailout bill that will generate billions of dollars for financiers and not one penny for workers. Small business owners need to feel confident they can hire new workers and invest in their businesses without fear that next week, next month, or even next year, Washington will turn its back on them.
The House will be in session next week. Have a great weekend.
Sincerely,
