Congressman Lee Encourages President Obama To Support Bipartisan Economic Growth Legislation

Press Release

Congressman Chris Lee (NY-26) today sent a letter to President Barack Obama encouraging his Administration to support bipartisan, pro-growth legislation to create jobs and help turn our economy around. Lee outlined several important pieces of legislation that would have an immediate impact on Western New Yorkers.

"As Members of Congress have begun to discuss their desire for a second large and expensive ‘stimulus' bill, I encourage President Obama and his Administration to first work Congress to pass these bipartisan bills that will have significant benefit to our economy," said Congressman Lee. "I have worked with my Democrat and Republican colleagues in the House to craft meaningful pro-growth, pro-consumer legislation that will spur real job gains."

"The only place in America solidly on track to meet the Administration's job creation projections is Washington, DC," said Congressman Lee. "Americans everywhere are asking ‘Where are the jobs?' The Administration has the opportunity to support several meaningful measures in the House of Representatives, and I hope they will advocate for these common sense solutions."

With the economy still hurting economy and the desired effects of the American Recovery and Reinvestment Act -- the "stimulus" -- not seen, the time is now to pass pro-growth, pro-jobs legislation.

In his letter to President Obama, Congressman Lee urged the President and his Administration to support the following bipartisan pieces of legislation meant to spur real job growth:

• H.R. 1545 -- Introduced with Rep. John Boccieri (D-OH), this bill makes the expiring research and development tax credit permanent and offer a bonus tax credit to companies who also manufacture their products in the United States. While there are other proposals to make the R&D credit permanent, this proposal will uniquely help strengthen American manufacturing and good jobs here at home.

• H.R. 1552 -- Introduced with Rep. Frank Kratovil (D-MD), this bill quadruples the tax deduction for new small business starts from $5,000 to $20,000. America's economy is built on the risk-takers and entrepreneurs, and it is important to provide greater incentives for new small businesses and the jobs they create.

• H.R. 2378 -- Introduced with Rep. Tim Ryan (D-OH), the Currency Reform for Fair Trade Act authorizes the International Trade Commission to take action to stop illegal Chinese currency manipulation. By artificially undervaluing its currency, the yuan, by as much as 40 percent, China gives its manufacturers unfair price advantages. Such practices violate international trade agreements, and this legislation uses existing authorities to level the playing field to ensure free and fair trade for American manufacturers and workers.

• H.R. 1245 -- With the support of 48 Democratic and Republican cosponsors, this bill replaces the current, expiring tax credit for first-time homebuyers with a one-time credit for 10 percent of the purchase price of a principal residence, up to $15,000. This bill will help struggling American families buy a home and strengthen the housing market.

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