Allard Comments on Economic Stimulus Package - Colorado Lawmaker Calls on Senate Colleagues to Pass Economic Growth Package

Press Release

U.S. Sen. Wayne Allard (R-Colo.), a member of the Senate Committee on Banking, Housing and Urban Affairs, commented today on the economic growth package currently being discussed by the Congress and the White House.

"One of the best ways to combat slowing economic growth is to increase the money in the pockets of Americans by decreasing their tax burden," said Allard. "Hardworking taxpayers deserve to keep more of their own money to spend on their own priorities, not Washington's priorities."

"Although our economy is still growing, that growth has slowed," continued Allard. "Congress should quickly pass a strong economic growth package to mitigate the risk of downturn in the economy and help prevent a recession."

"I am also hopeful that the economic growth package will contain tax cuts significant enough to help American businesses, especially small businesses," continued Allard. "Business tax cuts will help employers create jobs, which will fuel stronger economic growth. The Republican tax cuts of 2001 and 2003 demonstrated the importance of small business tax cuts in helping the economy."

"We must be cautious, however, in using the economic growth package simply as an excuse for additional government spending," added Allard. "Congress can't spend the nation into prosperity, and spending will have little immediate impact. Permanently increasing the size of government is not a viable solution to a temporary problem."

Allard and his Senate Republican colleagues will have lunch with U.S. Treasury Secretary Henry Paulson tomorrow to discuss global financial markets and possible legislation expected to facilitate an economic stimulus package.

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