Skipping Town -- With No Tax Relief
After session was cancelled for the House today and next Tuesday, Harry Reid and Nancy Pelosi confirmed that Congress will be adjourning without addressing the most pressing issue facing over-burdened taxpayers and small businesses -- preventing the $3.8 trillion tax hike that will take effect on January 1st if Congress fails to extend the 2001 and 2003 cuts. Putting off this vote until after the election is an insult to taxpayers and adds needless uncertainty to an already difficult economic climate. This week, my Republican colleagues on the Ways and Means Committee revealed that Illinois lost 177,000 jobs since the 2009 stimulus bill was enacted -- making it even more clear that residents cannot afford a tax hike. As always, I will continue to work in a bipartisan way, calling on my colleagues to act immediately to do what is best for the economy.
Just Another mini-TARP bailout
It should be clear by now that throwing money at banks is not the way to jumpstart small business growth. Unfortunately, Democrat leaders stuck to their failed playbook this week by passing the Small Business Jobs and Credit Act of 2010 -- legislation that creates a $30 billion mini-TARP bailout for banks that promise to increase lending. I opposed this legislation because what small business leaders tell me they want and need is tax relief, fewer government burdens, and the financial certainty necessary to invest in their own growth and begin hiring again -- not a $30 billion bank fund. Instead, I co-sponsored the Small Business Assistance and Relief Act, which would ease uncertainty by providing long-term extensions of the tax relief measures our job creators need most to grow.
Advancing Nuclear Energy R&D
You probably know that I have been a big fan of nuclear energy as a clean, safe alternative to expensive foreign oil. If you are also pro-nuclear energy, you may be interested to know that this week our Committee on Science and Technology approved H.R. 5866, the Nuclear Energy Research and Development Act of 2010. This bill will advance research on advanced nuclear energy, help address the issue of long-term waste storage, and invest in nuclear reprocessing technologies like those being pioneered at Argonne National Laboratory here in the 13th District.
An Unhappy Anniversary
Yesterday marks the sixth month anniversary of the Administration's new health care law, which continues to generate controversy, including Section 9006, which expands reporting requirements to the IRS for business transactions over $600. Buried deep inside the law, this new requirement would force small businesses to file a 1099 for any expenditure over $600. I signed onto a discharge petition calling for a vote to remove this section of the health care law entirely. I strongly support repealing the entire bill and replacing it with commonsense reforms that lower costs and increase access and quality.
I've heard from so many people who are incensed that members of Congress who might not be re-elected in November may be casting important votes after the November election before their terms officially expire. Potential topics on Speaker Pelosi's Lame Duck agenda include cap-and-trade, card check, amnesty for illegal immigrants, and a tax hike for the so-called wealthy (despite the fact that 40 Democrats have expressed support for stopping at least part of the tax hike for ALL Americans). Instead of a "Do-Nothing Congress," a Lame Duck session could result in something more dangerous -- a "Do-Too-Much Congress." Depending what occurs on November 2nd, we must take the results as our marching orders and follow the will of the people.
I Took the Pledge
Speaking of marching orders, this week my Republican colleagues and I unveiled our Pledge to America, a new governing agenda that reflects the ideals, priorities, and common sense solutions collected from millions of Americans through websites, town halls, job fairs, constituent meetings, and other forums over the last several months.
Action items contained in the Pledge include time-tested principles as old as the Constitution, as well as commonsense ideas, like allowing the public time to read a bill before it's voted on, ending taxpayer-funded bailouts, and stopping an upcoming $3.8 trillion job-killing tax hike. This agenda is a testament to the belief that it's time to put the power back where it belongs -- in the hands of the American people. To read the pledge, visit my website or click here.
As always, it is an honor to serve you in Washington. Do not hesitate to contact me at (630) 655-2052 if I can be of further assistance to you.
Member of Congress