Issue Position: Strengthening our National Economy

Issue Position

The productivity and creativity of the American economy has fostered tremendous prosperity for the United States. However our economy currently faces a temporary but difficult period of slowed growth. The strongest way to spur the economy is to cut back on out-of-control government spending, cut out waste and inefficiencies, and keep taxes low, so that Americans not only keep more of what they earn but have a government that respects their wallets.

In the spirit of accountability and fiscal responsibility, I support a one-year moratorium on earmarks until we find a responsible way to address the wasteful abuse of the earmark system. That means complete transparency and a cost benefit analysis to support the validity of each funding request. In the past, I have put each earmark request I have made on my website, so people know how I propose to spend their tax dollars. I have continued to pressure the leadership in the House to rein in spending, because I believe Americans should expect their government to respect their hard-earned money.

While we strengthen the dollar and repair Washington's fiscal house for the long-term, we should focus our immediate responsibility on strengthening the foundation of our economy. This begins by helping businesses, particularly small businesses, grow and invest more in expanding their company, hiring new workers, and in turn investing in the American economy. I am proud to have introduced legislation in the 110th Congress that provides a bonus depreciation of 50% for machinery or equipment purchased by American companies. This type of market-oriented approach provides an incentive for businesses to grow, and I am grateful that such an idea was included in the economic stimulus package passed by Congress and signed into law earlier this year.

This type of approach means we are helping the economy and American companies grow without relying on massive taxpayer funded bailouts or unnecessary government over-regulation which only stifles economic growth in the long-run.

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