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Gingrey Opposes Democratic "Trillion Dollar Debt" Bill

Location: Washington, DC

Congressman Phil Gingrey today voted against the House/Senate compromise version of the $789 billion economic "stimulus" package. This so-called compromise Conference Report passed the House by a vote of 246 to 183, with only Democratic votes in support.

"We really missed an opportunity today to give hard working Americans a true stimulus bill which would put their tax dollars back in their pockets," said Gingrey. "Instead, Speaker Pelosi and Harry Reid championed a bill that saddles our children and grandchildren with what will amount to more than $1 trillion in debt - and fails to provide our economy with the shot in the arm it needs. This ‘Stimulus' bill only perpetuates the dangerous myth that government spending will fix this economy, but the truth is government spending will only bury future generations in more debt. With the passage of this bill, this Congress will borrow more money in 2009 than we did in the first 200 years of our nation's history. President Obama and this Majority have missed an opportunity to do the right thing."

"Republicans have a real plan to create twice as many jobs at half the cost of this ‘spenduluous' through across the board tax cuts and cuts in government spending. I proudly joined with many of my Republican colleagues in introducing H.R. 470, the Economic Recovery and Middle Class Tax Relief Act, to create new jobs and spur economic growth by letting middle-class families, small businesses, job-seekers, and home-buyers keep more of what they earn."

The Economic Recovery and Middle Class Tax Relief Act would provide an across the board income tax cut of 5%, repeal the Alternative Minimum Tax, increase the child tax credit, cut the top corporate tax rate, make the Research and Development tax credit permanent, and save money through a 1% across the board cut to all non-defense federal discretionary spending.

"As a physician, I am also concerned with a health care provision that represents a major step toward government-run health care," continued Gingrey. "Hidden deep within this bill is $1.1 billion for comparative effectiveness health care research. While comparative effectiveness research sounds innocent enough, it is actually a tool for bureaucrats to decide which medical treatments Americans should or should not have access to. These sorts of personal decisions should be made by patients and physicians - not some federal bureaucrat who has never donned a lab coat."

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