Issue Position: Banking/Housing/Trade/Economy

Issue Position

Sustained economic growth comes from broad-based reforms that will create jobs and increase wealth for all Americans across the nation. An effective, long-term strategy for the U.S. economy should include: small business tax incentives that spur innovation, common-sense, cost-effective health care reform, permanent tax relief for individuals and families, and lifetime education programs that increase workers' job skills.

The economic stimulus package passed by the United States Senate in February 2009 was the lure of free money. I voted against the bill because its ability to actually encourage economic growth was highly suspect and transitory at best. Moreover, it piled on more debt to our children and grandchildren. In these trying economic times, Americans need a hand up, not a hand-out.

I oppose federal bailouts of our housing and finance industry and have voted against every bailout bill before the Senate. These programs suffer from a lack of transparency and accountability to the taxpayer. Since August 2007, the Department of the Treasury and the Federal Reserve have allocated trillions of federal dollars to solving our country's financial crisis. However, jobless claims continue to grow as our national Gross Domestic Product (GDP) shrinks. Our credit crisis cannot be solved by air dropping more taxpayer money out of an airplane.

Instead we need a tax code that allows businesses and families to keep more of the money they earn. We need to offer tax incentives to home buyers and reward responsible home owners. We also need to restore accountability to our federal assistance programs: changing the rules after Troubled Asset Relief Program (TARP) participants and others have bought into the program only damages the public confidence in our markets. I will continue to advocate for increased transparency in these programs and accountability to the taxpayer who has fronted the money to help bailout our economy. We must have a clear path for returning this money to the Treasury and paying down our mountain of federal debt as soon as our economy is restored.

Coming to grips with our energy problems is another essential component to improving our economy. We need to increase our supply of American-made energy while at the same time develop new, clean energy sources from coal, hydro, nuclear, wind and solar power. I believe resolving our nation's energy crisis should be a top priority and I will continue to fight for an approach that allows us to use all practical forms of energy at the same time we find ways to use less.

Lower taxes, smaller government, cheaper energy, and keeping families in their homes are four pillars necessary to strengthen the economy and create much-needed economic growth. I am proud to fight for these principles on behalf of every Wyoming resident.

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