Getting Our Fiscal House In Order

Statement

Our economy is struggling. With unemployment at 14 percent in some areas of our region, it is clear that creating jobs must be our highest priority. Families all over the country are spending less, saving more, and paying off their debts. Unfortunately, the same cannot be said of our federal government. In fact, the government is currently taking the exact opposite approach. Last year, the federal deficit grew to its highest amount in our history at $1.4 trillion.

The start of 2010 has brought more of the same from Washington. President Obama's Fiscal Year 2011 budget, which was unveiled last month, proposes additional spending as well as more debt and taxes for individuals and small businesses. Specifically, this $3.8 trillion budget proposal increases taxes by over $2 trillion in ten years and doubles our debt in five years. This is not the time to increase taxes and spend trillions of dollars that will burden future generations with additional debt.

Congress must halt tax and spending increases and instead focus on ways to assist in growing our economy and helping people get back to work. The first thing we can do is to provide incentives for businesses to expand and hire more workers by reducing taxes on the lowest income brackets and giving small businesses a twenty percent tax deduction. Congress must also eliminate wasteful and duplicative government programs as well as limit non-defense and non-veteran discretionary spending. It is also time to reform entitlement spending while ensuring that seniors receive their current benefits.

Enactment of legislation I introduced, H.R. 99, the Fair and Simple Tax (FAST) Act, would also reduce the tax burden on working Americans. FAST simplifies our tax code by giving taxpayers the option to use a straightforward, one page tax form. The FAST Act preserves vital deductions including mortgage interest and the child tax credit while eliminating the estate tax and reducing the capital gains tax. In addition, the FAST Act provides a tax deduction for those who do not receive health coverage through their employer to allow more families to purchase healthcare coverage. I will continue to fight to reduce out-of-control government spending as well as promote policies that put individuals back to work.

Finally, in order to directly assist job seekers in our area, I will be hosting another job fair this year. Please join me on April 7 from 9am to 1pm at the Goldy Lewis Community Center in Rancho Cucamonga for the Road to Employment Job Fair. For additional information or if you have any suggestions on ways to reduce government spending, please click here.

Source