U.S. Economy and Taxes

Floor Speech

U.S. ECONOMY AND TAXES -- (House of Representatives - October 10, 2007)

(Ms. FOXX asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)

Ms. FOXX. Mr. Speaker, America's economy is increasingly complex. While we hear reports of uncertainty, we also see many fundamental signs of health in the economy.

The latest good news is the recent jobs report that found the economy added 110,000 jobs in September and 89,000 jobs in August, a massive turnaround from the previously reported loss of 4,000 jobs in August.

With 200,000 new jobs added to the economy in the last 2 months, we once again have proof that Republican economic policies of cutting taxes to spur growth are still working. But we cannot keep our economy thriving on the tax cuts of yesterday. Congress must work to keep taxes low for America's working families.

We have already seen a Democratic budget that assumes a tax increase of nearly $400 billion. If there are signs of uncertainty about the future of our economy, such a financial hit to American taxpayers would undoubtedly undermine the positive steps Republicans took to ensure economic growth and stability.

Everyone wants a strong U.S. economy. Let's keep it that way by preserving low taxes and not preying on the wallets of the families that work hard to keep this economy humming.

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