Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement regarding the agreement that has been reached in order to avoid the so-called "fiscal cliff' scenario:
"Washington has a spending problem. No increase in tax rates will change that. Attempting to tax our way to prosperity while doing nothing to address our spending problems will not help out the average, middle class American. We need a total turnaround of the economy with private sector growth and more jobs. Today's agreement falls far short of these needs.
"I remain committed to advocating for the most prudent policy solutions for all of my constituents. I will continue to fight for America's children and grandchildren so they too can have the opportunities that you and I have had and are not burdened by a future of inherited debt, exorbitantly high taxes, and stagnant job creation."