Mr. Speaker, the way the other side shapes this debate, you'd think keeping money in Washington is going to boost the economy, create jobs, and give business owners the incentive to hire more workers. Nothing could be further from reality.…
Mr. Speaker, the way the other side shapes this debate, you'd think keeping money in Washington is going to boost the economy, create jobs, and give business owners the incentive to hire more workers. Nothing could be further from reality. But that's where this debate has gone.
``We can't afford it,'' they say. ``It's too much money,'' they argue. ``Deficits until the cows come home,'' they claim. The reality is that taxes are the leg irons on economic growth. That's the big picture. We are in a situation where economic growth has plodded along at a snail's pace since 1999. Then we were hit by a number of circumstances beyond our control--but each with a huge impact on the economy.
So what do we propose? Well, the best way to create jobs is to kick- start our economy. The best way to improve our economy is to let people keep more of their money. The vehicle that will get us there is H.R. 2, the Jobs and Growth package. H.R. 2 will empower consumers, encourage investment, and enhance the retirement of our senior citizens.
The Jobs and Growth package is $550 billion in job creation. It lets families keep more of the money they've earned creating opportunities for every American who wants to work. On that note: Every American who wants to work, ought to have an opportunity. Who are we to stand in the way of growth and prosperity?
You simply can't keep pooling the money here in Washington and expect the economy to grow. This package creates 1.2 million new jobs this year, 45,000 of those in my home State of Florida. H.R. 2 is pro job, pro family, and pro economy. This package creates work opportunities, and accelerates real relief for real families this year. This package increases the child tax credit to $1,000.
This package reduces the marriage tax penalty. This bill will allow a family to buy a new washing machine this year, save for their child's education next year, and buy a new car the year after that. This package lets 27 million taxpayers benefit from the increased child tax credit. Two-thirds of this package goes to individuals.
This plan provides some relief to 10 million senior citizens who currently pay the wrong and immoral double taxation of dividends. This will relieve at least some of their worry that they'll outlive their retirement nest egg.
This plan gives the backbone of our economy--small business owners-- the freedom to invest in their business, hire more employees, and create more taxpayers. The federal government is not going to spend us out of a slowdown. That is not an option. You want to increase the tax rolls? Then increase the opportunities for work. You do that by empowering consumers, employing workers, growing the economy.
This is the taxpayer's money, not the federal government's. I urge my colleagues to pass this bill. H.R. 2 is the kick-start this economy needs.