Congressman Simpson E-Newsletter Week of October 4, 2010

Statement

Congressman Simpson E-Newsletter Week of October 4, 2010

Last week the House passed the Senate Amendment to H.R. 3081, the Continuing Resolution for FY2011. The CR will fund the government at current levels through December 3, 2010, beyond the current fiscal year, which ended on September 30.

The House also passed H.R. 2378, the Currency Reform for Fair Trade Act, which addresses the negative impacts on U.S. trade by China's manipulation of its currency. Congressman Simpson supported this legislation. Finally, the House also passed H.R. 847, the James Zadroga 9/11 Health and Compensation Act of 2010, which expands the 9/11 Victims Compensation Fund for first responders who suffer health consequences from the September 11, 2001, attacks on the World Trade Center. Congressman Simpson opposed the bill because it drastically expands the fund beyond what is needed to cover the costs of those directly impacted, creating an unnecessary new entitlement program, and because the $7.4 billion bill was paid for with a large tax increase that would reduce the ability of companies to create jobs in the U.S.

Simpson Opposes Government Spending Bill
Congressman says the resolution continues unsustainable spending levels
Congressman Mike Simpson issued the following statement following his vote against H.R. 3081, the Appropriations Continuing Resolution, which will fund the government from the start of the fiscal year, Oct. 1, 2010 thru Dec. 3, 2010. The House of Representatives passed the resolution last week with a final vote of 228-194.

"I cannot support any piece of legislation that locks in place for the next fiscal year the unsustainable spending levels of the past fiscal year," said Simpson, a member of the House Budget Committee. "Virtually everyone in America knows that Congress has to cut spending, and the Continuing Resolution would have been a great place to start. Unfortunately, Democrats have missed yet again an opportunity to cut the federal budget and instead are content to continue down the path of even more spending and borrowing."

Simpson is a member of both the House Budget Committee and the House Appropriations Committee, and he is the Ranking Member of the Appropriations Subcommittee on Interior and Environment.

Simpson Urges Vote on Extending Tax Cuts
Congressman Mike Simpson joined 144 Members of Congress in sending a letter to House Speaker Nancy Pelosi requesting an up-or-down vote on extending the 2001 and 2003 tax cuts before the November election. If Congress fails to act on extending these tax credits before the end of the year, American families and small businesses will see a tax increase of almost $4 trillion.

"All taxpaying Americans have benefited from marriage penalty relief, increased child tax credits, and a reduced tax burden on their income and their investments," said Simpson. "Right now American families are struggling to make ends meet and small businesses are facing the possibility of laying off employees or closing their doors, and I simply don't believe that a huge tax increase on families and job creators is the best way to get our economy growing again."

Because many small businesses pay taxes within the framework of the individual income tax, small businesses are three times more likely to see their taxes increase, compared to other individuals.

"Small businesses are the engines of our economy, and if we want our economy to recover, we need to give them the tools that they need to grow their businesses and hire more employees," said Simpson. "Now is not the time to raises their taxes, pile unnecessary regulations on them, and create more uncertainty that will impede their ability to create jobs."

Simpson is a cosponsor of numerous pieces of legislation to extend or make permanent existing tax relief provisions, including the repeal of the death tax, increased child tax credits, and relief from the marriage penalty.

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