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Public Statements

Get Out Of The Way of Business

Statement

By:
Date:
Location: Washington, DC

"While President Obama was delivering his political manifesto across the country for his $400 billion "son of stimulus' package, I was meeting with New Jersey businessmen and women across my Congressional District. I have no idea what the President is hearing from the people he met in Hollywood and elsewhere, but I listened to business people and their employees tell me how hard it is to "make it' today. They want to expand their companies and hire additional workers but they need more certainty on taxes, fewer bureaucratic regulations and a boost in consumer confidence.

"In short, they want the government -- federal, state and local -- to get out of their way so they can get on with what they do best -- create jobs.

"They agree that we don't need more stimulus style spending. We need to focus on making it easier for businesses, large and small, to operate and grow.

"And using harsh political rhetoric to attack successful businesses and promote class warfare seems contrary to the concepts and principles that have made America the great nation that it is today! "

President's Jobs Bill: $200k per job!

As President Obama and his Cabinet continue their campaign for passage of the "American Jobs Act, Treasury Secretary Timothy Geithner pointedly declined to dispute a Harvard economist's estimate that each job in the White House's jobs plan would cost $200,000.

And he also pointed out, in an interview with ABC News that "there is no other option on the table for getting the economy moving and putting more people back to work."

Secretary Geithner must not be paying attention. For example, Rodney is advocating a pro-growth action plan that is focused on private sector job creation and economic expansion that addresses current economic challenges, promotes innovation and investment, and helps job creators without raising taxes on working families and small business owners:

ØEmpower Small Business Owners and Reduce Regulatory Burdens byauditing existing and pending regulations to correct those that hinder economic growth;

ØFix the Tax Code to Help Job Creators bystreamlining tax laws and lowering rates for businesses and individuals including small business owners to 25%;

ØIncrease Competitiveness for American Manufacturers by opening new markets to American-made goods by immediately passing three pending free trade agreements with Colombia, Panama, and South Korea;

ØEncourage Entrepreneurship and Growth by building a first class workforce so that the United States can lead the way in technological innovation;

ØMaximize Domestic Energy Options by encouraging all forms of energy production;

ØPay Down America's Debt Burden and Start Living Within our Means by enacting significant government spending cuts.

Obama Jobs Bill Takes Aim at Charities

President Obama's proposed $447-billion jobs bill would be financed mainly by limiting the percentage of income certain donors could write off, including tax breaks for charitable contributions.

The President has suggested limiting write-offs for itemized deductions to 28 percent. The nation's most affluent people are currently allowed to write off 35 cents of every $1 they spend on charitable giving.

The President has proposed changes to the charitable deduction several times since taking office and has faced stiff opposition from charity and nonprofit groups. They say that limiting the value of the tax provision would cause those people best able to give to reduce their giving.

"Our area is in the midst of recovery from a genuine disaster and during these trying times a range of houses of worship and other charities stepped-up big time to help our families, neighbors and businesses," said Rodney. "Unless you actually want the government to be the only source of assistance for our communities in the future, then it makes no sense to starve non-profit groups of the funds they need to do their jobs. At the end of the day, the President's new tax will hurt those who need the help the most. It takes us backward!"

In a recent letter to Congressional leaders, the United Way, the largest non-government funder of human service in the nation, wrote, "We have front-line knowledge that a reduction in deductibility of donations will result in reduced donations to charity…at the worst possible moment. The bottom-line is that, as a result of the charitable deduction cap, hundreds of thousands of Americans who need our help the most may no longer receive the services we provide…"

Discouraging Homeownership

President Obama has also taken aim at another valuable tax break -- the mortgage interest deduction. Any changes to the mortgage interest deduction now or in the future could threaten recent progress toward stabilizing the housing market, critically erode home prices and values, destroy middle-class wealth accumulation and hurt economic growth.

"Many economists believe that the mortgage interest deduction is vital to the stability of the American housing market and economy," Rodney said. "The Mortgage Interest Deduction fosters home ownership by reducing the costs of owning a home. There's no doubt that it makes a real difference to hard-working families."

Reducing or eliminating the MID is a de facto tax increase on homeowners, who already pay 80 to 90 percent of U.S. federal income tax. Some experts have said the share could rise to 95 percent if the MID is eliminated.

"In the months ahead, Congress and the Budget "Supercommittee' need to be very careful not to add to an already terrible real estate market," Rodney said.

Health Premiums Rise After Year #1 of Obamacare Law

This week, the Kaiser Family Foundation released its annual Health Benefits Surevey confirming again that President Obama broke his promise to reduce health care premiums by $2,500.

The report finds that health care premiums in the workplace have increased 9 percent, or over $1,200 for an average American family, in the year following enactment of some of the earliest provisions of the Obamacare law -- a sharp increase from the 3 percent increase highlighted in last year's Kaiser report.

Monthly health insurance premiums will continue to skyrocket if the federal mandates in the law are allowed to be implemented covering every type of "pre-existing condition," which is why this law must be repealed and replaced with common sense solutions that reduce the cost of health coverage.


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