Our nation is in the midst of an unprecedented effort to rebuild our economic and it on a strong foundation for the future. The federal government's response to this crisis has been significant, but so too was the scope of the challenge we have faced -- savings evaporated nearly overnight, housing prices collapsed, lending dried up and many families found themselves unable to make ends meet. That is why I have worked to enact legislation in Congress aimed at economic recovery, tax relief and fiscal responsibility.
Congressman Courtney's Work on Key Economic Issues:
Investing in Economic Recovery. I voted for the American Recovery and Reinvestment Act (ARRA) because it invests in key areas that have proven to help spur our economy -- creating and saving jobs, improving infrastructure, and providing tax relief for individuals and small businesses. Already, we have seen significant funding flow to eastern Connecticut in the form of new rail infrastructure along the shore, in injecting critical funding to help local municipalities make ends meet without cutting their education programs, and spurring new opportunity through the homebuyer tax credit and other tax incentives.
Supporting Hard Working Connecticut Families. A robust middle class has been, and will continue to be, the foundation of nation's economic prosperity. Whether providing tax incentives to small businesses, reforming the alternative minimum tax for millions of Americans, expanding children's healthcare for working families, or making college more affordable, I have made standing up for hard working Connecticut families one of my top priorities in Congress. For example, when faced with a vote on the Wall Street Bailout, I voted no because it did not help Main Street Americans. And, when Congress considered an extension of unemployment benefits that would not help those struggling in Connecticut, I voted no and fought for a fairer policy.
Tax Relief for Families, Small Businesses and Job Creation. I strongly support efficient and transparent tax reform that not only makes the system fairer and simpler, but also helps to generate long-term economic progress for our state and our country. I have also worked to provide tax relief for middle class Americans and helped pass legislation to protect nearly 100,000 taxpayers in eastern Connecticut from the Alternative Minimum Tax (AMT). In addition, I have supported tax relief to help small businesses to grow and create jobs, ease the burden on military families, support our volunteer emergency responders, and invest in the development of new energy technologies.
Strengthening the Housing Market. In large part, our economic downturn can be traced back to the collapse of our housing market. That is I why I have helped pass legislation to revamp our federal housing policies, strengthen oversight on Fannie Mae and Freddie Mac, rein in subprime lending and protect homebuyers. And, having seen the tremendous impact that the First Time Homebuyer Tax Credit has had in restoring confidence in our housing market, I am working in Congress to extend this law in a bipartisan way.
Restoring Fiscal Responsibility in Washington. As we rebuild our economy and restore the financial security of middle class workers and families, our nation must also focus on the long-term reduction of our budget deficit. Since first coming to Congress, I have been a strong supporter of the Statutory Pay-As-You-Go Act, which requires all new non-emergency spending to be fully paid for -- either through new revenue or corresponding spending cuts elsewhere in the budget.