I am very concerned by the turbulence in the financial sector, which has implications for family budgets and for American businesses. Steps must be taken to shore up the markets, restore investor confidence and jumpstart the sagging economy. But these efforts must be focused on protecting American taxpayers, shoring up retirement savings and pensions, and supporting American innovation that creates jobs.
For example, I helped author the recently enacted economic stimulus that provided more than 130 million American households with a stimulus check and provided American businesses with incentives to encourage job creation. I co-authored the Small Business Tax Relief Act, a law that passed in 2008 to provide tax relief for American small businesses - the true engines of our economy. I have consistently fought to provide middle-income families with relief from the Alternative Minimum Tax (AMT). I helped to write the Trade and Globalization Assistance Act, a proposal to help American workers remain competitive in the new global economy. And, I voted for the Higher Education Opportunity Act, a new law that will significantly increase Pell Grants and encourage students to pursue careers in science and technology.
As I continue to advocate these proposals to create jobs and expand the economy, I will also be deeply involved in Congressional oversight of the financial sector. For too many years, President Bush and the Republican Congress have turned a blind eye to the very business practices that caused the current economic troubles. I will work with my colleagues in Washington to establish effective, common-sense regulations that will restore confidence in American markets.