$50 Million Beachfront Property

Statement

This week in Washington, President Obama delivered his first official State of the Union Address, repeating promises of fiscal responsibility and job creation like in his first presidential address to Congress last February.

Unfortunately, I believe that his words ring hollow after a year of unprecedented spending, record deficits, a failed stimulus, and double-digit unemployment. The American people need responsible action -- not rhetorical flourishes.

If his commitment to fiscal responsibility is to be believed, President Obama must do far more than support "freezing" current runaway spending levels -- which have increased by 85% since Democrats took control of Congress. And if he is serious about creating jobs, President Obama will permanently shelve his job-killing agenda that will lose 10 million jobs under a government takeover of healthcare, the National Energy Tax, and card check unionization.

I firmly support tax relief for small businesses, and I will continue working to support this goal in Congress. That is why I introduced the EXPENSE Act, which I highlighted in last week's newsletter, to provide job creators with immediate investment capital to grow their business and hire more workers.

The best way to help the middle class and small businesses is not by picking winners and losers among Americans -- but by creating jobs and growing the economy for all Americans. And no amount of job-killing wars on Wall Street and large employers can diminish this reality.

I believe that President Obama should chart a new beginning for his presidency based on the will of the American people and deliver on his promises for transparency in Washington.

Today, President Obama and House Republicans met to discuss policies in Congress and solutions for America. We appreciate President Obama's willingness to meet with us, and we reminded him that he cannot truthfully claim that Republicans have no ideas. Despite his assertion otherwise during his State of the Union address, President Obama knows that Republicans have consistently presented ideas and solutions -- which have been ignored under the Democrats' one-party rule of Washington.

With a constant readiness to work with President Obama, House Republicans have and will continue to provide common-sense solutions to the challenges of our time. Promises made must be promises kept because the American people deserve far better from their government.

Special Olympics Texas
On Wednesday, I was very pleased to welcome Texas Special Olympics athletes and Special Olympics supporter Joe Jonas of The Jonas Brothers band to my Capitol Hill office. Together, we recognized the unique accomplishments of these determined athletes and discussed congressional support for Special Olympics and people with disabilities.

As the parent of a young man with Down syndrome, I understand how important Special Olympics is to individuals with disabilities, providing them opportunities to develop, build confidence, and contribute to their community. My son, Alex, has competed in swimming and track with Special Olympics, and I am grateful for the opportunities he has had to compete and develop to the best of his ability.

As you may know, Special Olympics Texas provides year-round training and competition for 32,240 children and adults with intellectual disabilities in Texas, holding more than 250 competitions annually on area, regional and state levels. Over 20 sports are represented, including track, basketball, cycling, softball, golf, bowling and equestrian sports. Their achievements highlight the valuable contribution that individuals with intellectual disabilities make to our communities.

As a member of the Special Olympics Texas President's Advisory Council, I look forward to continuing to support Special Olympics and promoting policies in Congress that will provide individuals with disabilities with more opportunities to learn, work, and achieve to the best of their abilities. To learn more about Special Olympics Texas, visit www.sotx.org.

$50 Million Beachfront Property?
At a time of record spending, trillion dollar deficits, and double-digit unemployment, on Wednesday Democrats in Congress voted to spend $50 million of taxpayer money to create a beachfront National Park on St. Croix in the Virgin Islands.

This reckless, wasteful spending is especially offensive to the millions of unemployed Americans who are struggling to find work and make ends meet. The top priority of this Congress should be job creation, yet Speaker Nancy Pelosi and Democrats in Congress are choosing to waste tax dollars on beachfront property that the National Park Service doesn't even want right now.

That's right. The National Park Service asked Congress to delay any action on the property until the NPS could complete a study on the land proposal. Additionally, NPS has a $9 billion maintenance backlog in the park system -- which inhibits its ability to care for the beachfront property when purchased. But neither the National Park Service's plea nor the obvious maintenance challenges will deter Democrats from spending $50 million of your tax dollars.

What a waste. I will continue to do everything I can to hold the Majority accountable for its reckless spending.

Economic News
Today, the Department of Commerce announced that the U.S. economy grew at an annual rate of 5.7 percent in the fourth quarter of 2009 -- the strongest Gross Domestic Product (GDP) rate since 2003. Stronger business investment offset lower consumer spending, which is essential for sustained economic growth and accounts for nearly two-thirds of economic activity. Increased GDP is an encouraging sign, but it must be driven by sustainable demand in the marketplace and produce real job creation.

While GDP may be up, the housing market is down sharply. U.S. home sales declined 16.7 percent in December -- the largest decline on record, dating back to 1968. A contributing factor: uncertainty in the marketplace over extending the homebuyers tax credit. Home sales rose dramatically -- by nearly 40 percent -- from June 2009 to November 2009 in response to the federal tax credit for first-time homebuyers. But the tax credit was set to expire in November, and this Congress failed to renew it fast enough to provide market certainty, covering the contract date to the closing date of a home purchase. I believe that the off-again on-again tax credit is another example of failed leadership in Congress -- where Democrats' prioritized their tax-and-spend agenda of energy taxes and government-run health care over creating jobs and growing the economy with confidence in the marketplace.

In additional news, the IRS has finally announced tax filing requirements for the $6,500 federal tax credit for repeat home purchases. Subject to purchase price and income eligibility, the tax credit can apply to purchase contracts dated from Nov. 7, 2009 to April 30, 2010, and the closing must occur no later than June 30, 2010. Specific filing instructions, including required documentation, as well as a revised Form 5405 can be found at www.irs.gov.

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