Rooney: Failed Stimulus Policies to Blame for High Unemployment

Statement

U.S. Rep. Tom Rooney (FL-16) today issued the following statement after the House voted to add $34 billion to the deficit for unemployment benefits, without addressing the root causes of double digit unemployment:

"People in Florida and across the country are unemployed because the stimulus failed. Instead of passing a bill to help small businesses grow and create jobs, the Democrat Congress and President Obama threw away $1 trillion on wasteful programs that have completely failed to jumpstart the economy or create jobs.

"Until we leave behind the anti-growth, anti-small business policies of this Congress and this White House, double digit unemployment will continue to plague our country.

"We should pay for unemployment benefits by redirecting unspent stimulus dollars away from wasteful projects like road signs and highway propaganda. I'm disappointed that Congressional Democrats rejected this fiscally responsible approach, demanding instead that we add the costs to the record deficits and debt they've created.

"Extending unemployment benefits is a Band Aid solution on a gaping wound. Congress needs to abandon the failed stimulus and get to work on proven solutions to grow the economy and create real jobs. Small businesses, not the federal government, are the real engine of economic growth and job creation. We need to pass permanent tax relief and give our small businesses the favorable, stable environment they need to grow and create lasting jobs."

Rooney's Economic Freedom Act, H.R. 5029, would:

* Permanently eliminate the capital gains tax.
* Permanently provide immediate small business expensing.
* Permanently eliminate the death tax.
* Cut the payroll tax in half for 2010 for employers and employees.
* Reduce the corporate income tax rate to 12.5 percent (the same rate as Ireland's).
* Repeal spending in the "stimulus" bill, except for unemployment benefits and tax cuts.
* Terminate the TARP program.

Source