Florida has been particularly hard-hit by the economic downturn of the last two years, with a double-digit unemployment rate statewide, and far higher in counties across the 16th district. Getting Floridians back to work and putting our national economy on the right track is Congressman Rooney's top priority. The failures over the last two years to jumpstart economic growth and reduce unemployment have illustrated that big government, big spending approaches to economic recovery do not work. That's because the government doesn't create jobs, small businesses do.
Congress must focus on fostering an environment where businesses, particularly small businesses, can grow and create lasting, private sector jobs. Instead of higher taxes, more government mandates, and reckless spending on wasteful pet projects, Congress must permanently lower taxes on small businesses and job creators. Congress must work with the federal agencies to reduce costly regulations and mandates. The federal government must also get its fiscal house in order by balancing the budget.
Congressman Rooney is a cosponsor of the Economic Freedom Act, which would:
* Permanently eliminate the capital gains tax.
* Permanently provide immediate small business expensing.
* Permanently eliminate the death tax.
* Cut the payroll tax in half for 2010 for employers and employees.
* Reduce the corporate income tax rate to 12.5 percent (the same rate as Ireland's).
* Repeal spending in the "stimulus" bill, except for unemployment benefits and tax cuts.
* Terminate the TARP program.