Congressman Mac Thornberry (TX-13) today made the following statement regarding the House - Senate Conference Committee Report finalizing an economic stimulus bill:
"We are in a serious recession, and many people in our community and around the country are hurting. I believe that there is a role for government to help get the economy growing again and to help those who have lost their jobs."
"But the bill before Congress takes the approach that taxing or borrowing money for the government to spend or redistribute is the best way to help. I believe that lower taxes and encouraging the private sector to expand by making capital available is the best way to create jobs and economic growth."
"This isn't a petty political argument, but a fundamental debate about the size and scope of government and the role of federal power in the private economy and in our lives. We have to get it right; the potential for long-term damage to our economy and the erosion of the economic freedoms that have made us the richest nation on earth is huge."
"The economic stimulus bill agreed to in the Conference Committee Report is a compromise, not between Republicans and Democrats, but between the Democratic President and the Democratic House and Senate leadership. Thus, it reflects their belief that government knows best and that taxing or borrowing money for pork barrel government spending is the best way to help turn back this recession."
"I respectfully disagree, not because of politics, but because history and economics demonstrate that this solution will not work. Rather than more government, more debt, and more spending, I believe we should enact fast-acting tax relief for working families and small businesses, and where necessary, help folks who are unemployed with unemployment insurance and retraining. Using the President's own economic analysis, the alternative plan I supported would have created twice the jobs at half the cost."
"Having written this bill behind closed doors, and compromised only with themselves, the Democratic President and the Democratic House and Senate leadership have made their choices about how to address our nation's economic woes. I wish I could predict it will succeed, but I suspect that, if we take the President at his word, this level of spending and this level of federal intrusion into the economy is only the beginning."
"As the clock ticks toward the Presidents Day deadline President Obama set for passage of this important legislation the Democratic House and Senate leadership still have yet to release the language of the largest spending bill Congress has been asked to pass since World War II."
"I expect to issue another statement when the Democratic leadership releases the bill text and I complete my review and analysis of the final details of this 750+ page bill."
To view the Conference Report on H.R. 1, please click here.