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Public Statements

Fiscal Cliff

Floor Speech

Location: Washington, DC

Mr. PALAZZO. Mr. Speaker, today, this body will take up legislation that will cut spending, replace the dangerous defense sequester, and protect millions from the biggest tax hike our country has ever seen. This is a good first step. The costs are simply too high to go over the fiscal cliff.

Earlier this week, the CPA Caucus met with former Comptroller David Walker to discuss what we truly need for meaningful, long-term reform. Walker proposed six basic principles that I want to share with this body today:

1. Pro-Growth. Truly pro-growth policies will empower our small businesses rather than strangle them with taxes and regulations at every turn.

2. Socially equitable. We're in this together, and we cannot expect one income bracket to bear the burden of solving all of our problems.

3. Culturally acceptable. We need the support and backing of the American people to enact good solutions.

4. Mathematically possible. We cannot continue to ignore the bottom line. I'm a CPA. To me, it's obvious that we have to balance our books.

5. Politically feasible. Our solutions won't always be perfect, but they have to be proposals both sides can agree on.

6. Bipartisan support. We can agree to disagree on certain matters, but we must still work together.

These six principles can be our bridge forward.

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