Frelinghuysen Statement on President's Address to Congress
Rep. Rodney Frelinghuysen (NJ-11) had the following comments on today's address to Congress by President Barack Obama:
"This evening, President Obama laid out his agenda for the nation and his ideas to revive our economy. I applaud his desire to address the many challenges facing our nation! However, I have serious concerns about his plans to raise taxes on families and small businesses.*
"President Obama discussed the importance of restoring fiscal discipline to Washington. I share that important goal, but fiscal discipline begins with reining in government spending and eliminating waste, not increasing taxes. Adding new taxes on families and small businesses will only lead to job losses and a deeper recession.
"New Jersey families and businesses are genuinely worried about their financial futures. Many of them are struggling just to survive. Small businesses are working just to keep their doors open and pay employees. Taking more of their hard earned money will only result in more layoffs and fewer job opportunities. New Jersey already suffers from one of the nation's highest tax burdens. Our families and small businesses cannot afford to have their taxes increased.
"Since President Obama was sworn in, Congress has passed an $800 billion stimulus package, a $350 billion extension of the Troubled Assets Relief Program for banks, and, later this week, the House will consider a $410 billion Omnibus appropriations bill, which will finally complete Congress' work on last year's spending bills.
"When this final spending bill is signed, over $1.5 trillion of borrowed money will have been spent since Inauguration Day by Congress. Throughout this process, the House leadership has opposed efforts to eliminate excess spending, increase accountability, or provide additional tax relief to families and businesses.
"The President is right. We must restore fiscal responsibility to Washington, but Speaker Nancy Pelosi and Senate Majority Leader Harry Reid must be willing to limit the growth in spending. Tax increases in a recession will further erode consumer confidence and discourage an economic recovery."