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Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. JORDAN of Ohio. Mr. Chair, despite the clear message sent by the American people in November, the Obama Administration and the Pelosi Congress continue to borrow and spend like there is no tomorrow.

In another attempt to bring some fiscal responsibility back to this Congress, I submitted an amendment yesterday in the House Rules Committee that would seek $149 billion in cuts to offset the $95 billion in new spending in H.R. 4853, the so-called Middle Class Tax Relief Act of 2010.

While I am glad to see this bill temporarily stop the Democrats from raising the income tax rates of every American, I am disappointed that it includes a massive increase in the estate tax that will hurt the families, farmers and small business owners in my district and across America.

I am further disappointed that the new spending in this bill will add to the deficit, further burdening our children and grandchildren with debt that must be repaid. We cannot continue to grow our debt and by loading well-intentioned bills with billions of extra dollars in borrowing and spending.

My amendment would do what the American people are demanding we do: stop the out-of-control federal spending! By returning non-defense appropriations spending to FY 2008 levels, we will realize an immediate savings of $80 billion. By repealing the remaining stimulus funds, we save another $69 billion.

Tacking more spending on to bills is a hallmark of Washington politics. It has landed us in record-high debt. We must break away from this trap with a commitment to passing clean bills and eliminating excess waste.

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