Tipton: To Reduce the Deficit: Create Jobs, Cut Spending, Balance the Budget

Statement

Rep. Scott Tipton (R-CO) issued this statement today following the President's speech on his deficit reduction plan.

"I support a commonsense approach that addresses our spending problem in the long-term, and increases certainty for job creators so Americans can get back to work. It's a strong plan that cuts spending and makes Washington do what families in my district do every day, balance the budget.

"The problem in the U.S. is not revenue; it's not hardworking American families; it's not employers and job-creators. The problem is that Washington continues to spend money that we don't have, and that when spending cuts should be the order of the day, the President proposes to levy an additional $1.5 trillion tax burden on our country's job creators. While I am happy to hear the President acknowledge that we need to reform the tax code, the interim solution is not to raise taxes. We must see cuts that address our country's massive deficit, not tax increases that punish job creators and feed uncertainty.

"The American people know that fundamentally, deficit reduction begins with reining in spending. To that end, I invite the President to join me and millions of Americans in support of the Balanced Budget Amendment that will be voted on in the House and Senate in the coming months. I hope to work with the President to cut spending, encourage free enterprise, and balance the budget. America's future depends on it."

Background:

* Read more on the Balanced Budget Amendment.
* Read more on House efforts to cut spending.
* Read more on House efforts to encourage free enterprise.

Relevant legislation:

* Rep. Tipton co-sponsored the Capital Access for Main Street Act (H.R. 1356) with Rep. Ed Perlmutter (D-CO) to increase access to capital for small businesses by will temporarily allow small community banks with under $10 billion in assets to spread out or amortize a portion of their commercial real estate loans over a seven-year period. As a result, these small community banks, which provide many of the loans to our small businesses, will have more liquid capital available to make responsible loans.

* Rep. Tipton introduced H.R. 1074 to reduce the corporate income, capital gains and dividends tax rates to 10 percent--leveling the playing field to attract business investment, and encourage new job growth.

Source