McKeon Criticizes Democrat-Passed Spending Bill Disguised as “Stimulus” (House GOP's better plan)

U.S. Congressman Buck McKeon (California) ^ | January 28, 2009 | McKeon, et al

[The Spirit Of Allegiance]

McKeon Criticizes Democrat-Passed Spending Bill Disguised as “Stimulus” Republicans aim to stimulate small business and cut taxes, not bloat government

WASHINGTON, D.C. – Earlier today, H.R. 1, the American Recovery and Reinvestment Act of 2009, passed the United States House of Representatives with a 244-188 vote. Rep. Howard P. “Buck” McKeon (R-Santa Clarita) joined his Republican colleagues in denouncing the Democrat plan and uncovered the bill as nothing more than a spending measure cloaked as “stimulus.” McKeon opposed Speaker Pelosi’s legislative package and instead supported the House Republican Economic Recovery Plan.

“With California’s unemployment rate up over 9%, it is clear that Congress has to act, but adding an astounding $1.1 trillion to the nation’s deficit for spending and growing the government is a frightening proposition, said McKeon. “Eventually, someone will have to pay for this bill, and it will likely be our children and grandchildren who shoulder that burden. Economic stimulus should focus on job creation, small business tax relief and putting money back into the pockets of Americans, but the Democrat bill fails to focus on these critical tasks.”

“We need a bill that will have an immediate impact on the economy, but the Congressional Budget Office has pointed out that only 15% of the funding in the Democrats’ bill will enter the economy this year. The Democrat plan is nothing more than a federal spending bill that should have gone through the regular legislative process where it could be debated. As it stands now, Republicans had no input, and to be frank, many Democrats were also shut out of the process.”

“Over 200 expert economists opposed the Democrat bill and warned that growing the government historically fails. Democrats seem to be under the impression that they can borrow and spend their way out of a recession, but it just won’t work.”

Example of Congressional Add-ons Included in Democrat Economic Spending Bill:

* $650 million to extend the coupon program to subsidize the purchase of analog-to-digital TV converter boxes (Page 47) * $600 million to buy new cars for government workers (Page 89 * $200 million to repair the National Mall in Washington, D.C. (Page 120) * $150 million for repairs to Smithsonian Institution facilities (Page 128) * $50 million For the National Endowment for the Arts (Page 129) * $462 million for equipment, construction, and renovation of facilities at the Centers for Disease Control (Page 137) * $3 billion for prevention and wellness programs, including $335 million for STD education and prevention (Page 153 * $1 billion for the follow-up to the 2010 Census (Page 45)

NOTE: McKeon supported the House Republican Economic Recovery Plan, which failed to pass the House. The Democrat bill, H.R. 1, is expected to be considered in the Senate next week.

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Details from one of the Congressman's emails:

Minority Economic Recovery Plan:

Immediate Tax Relief for Working Families: Rather than a refundable credit based on payroll taxes, we propose reducing the lowest individual tax rates from 15% to 10% and from 10% to 5%. As a result every taxpaying-family in America will see an immediate increase in their income with an average benefit of $500 in tax relief from the drop in the 10% bracket and $1,200 for the drop in the 15% bracket. A married couple filing jointly could save up to $3,200 a year in taxes.

Help for America’s Small Businesses: Small businesses (those employing less than 500 individuals) employ about half of all Americans, yet they can be subject to tax rates that siphon away one-third or more of their income. We propose to allow small business to take a tax deduction equal to 20% of their income. This will immediately free up funds for small businesses to retain and hire new employees.

No Tax Increases to Pay for Spending: The stimulus proposal pending in Congress includes record levels of government spending that will substantially increase the current deficit. Any stimulus package should include a provision precluding any tax increases now or in the future to pay for this new spending. Stimulus spending should be paid for by reducing other government spending, not raising taxes.

Assistance for the Unemployed: Incredibly, the Federal Government actually imposes income taxes on an individual receiving unemployment benefits. We propose to make unemployment benefits tax free so that those individuals between jobs can focus on providing for their families.

Stabilizing Home Values: The real-estate market is paralyzed as potential buyers wait on the sidelines waiting for prices to fall even further. This is becoming a self-fulfilling prophecy. In order to encourage responsible buyers to enter the market and stabilize prices, we propose a home-buyers credit of $7,500 for those buyers who can make a minimum down-payment of 5%.

Tax relief, not wasteful spending, will have the greatest positive impact on the economy in the shortest amount of time.

[The Spirit Of Allegiance]

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[FlingWingFlyer]

This is not a “stimulus” bill. This is an appropriations bill containing everything on the Commie ‘RATS’ wish list created over the past 50 years. It’s all there.

[Girlene]

Interesting tax cut proposals in the GOP plan.