ECONOMIC GROWTH: POLICIES OF REDUCING TAXATION AND LESSENING REGULATION WORK -- (House of Representatives - July 11, 2005)
(Mrs. BLACKBURN asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)
Mrs. BLACKBURN. Madam Speaker, today we are all returning from what has been a glorious July 4 celebration in our home communities, looking at what makes America great. And I was so pleased to pick up a stack of papers and leaf back through them, and I found an article of interest in the business section of The Washington Post, and the headline caught my attention: ``Economic Growth, Tax Receipts Combine to Reduce Deficit.''
We all know The Post is generally not our friend, but it goes on to state that the deficit will be as much as $100 billion lower than the official forecasts and previous forecasts. Jobs growth is up 3.8 percent, as opposed to what they thought would be the estimate, 3.5 percent. Tax receipts are up.
It just goes to prove, Madam Speaker, that the policies of reducing taxation, lessening regulation work are revitalizing, stimulating the economy.
I commend our leadership for the tax reductions and look forward to more positive headlines.