I strongly believe in the power of the free market to create prosperity. Entrepreneurship and creativity is the cornerstone of American exceptionalism, and our continued ability to innovate is a reflection of these qualities. Our policies must provide equal opportunity for all and give individuals the necessary tools to succeed despite social status.
It is clear our economy faces unprecedented challenges. The financial crisis of 2008 highlighted how quickly the economy can make a sharp downturn and put millions of American citizens out of work. I have heard from the hardworking people of Arkansas's First District who face financial strains and don't know where their next paycheck will come from. Unfortunately, the policies intended to put Americans back to work had the opposite effect and the unemployment rate has continued to grow. The bailouts of private industries put government in the business of picking winners and losers instead of allowing the free-market to self-correct. The stimulus boondoggle added another trillion dollars to our national debt and did nothing to create jobs. And the government takeover of healthcare has put in jeopardy one-fifth of our nation's economy.
In order to get our country back on track, we must create certainty for businesses by reducing the regulatory burden and permanently lowering taxes. Moreover, I support efforts to overhaul the current tax system by broadening the tax base and lowering the corporate tax rate. These measures would have immediate and long-term effects by spurring job growth and making America more internationally competitive. One of my first acts as a Member of Congress was to introduce legislation that eliminates the 1099 paperwork requirement included in ObamaCare. This provides immediate relief to small businesses allowing them to redirect resources and focus on job creation. I also co-sponsored legislation that permanently extends the Bush tax cuts and repeals the estate tax.
Fixing our nation's economy and putting Americans back to work remains my top-priority as a Congressman. I will continue to focus my efforts towards implementing pro-growth policies so our economy can recover and Americans can get back to work.