Mr. Speaker, I need not state that last week was a very, very trying, yet very moving week for many Americans because we said goodbye to one of the greatest Presidents I believe in the history of America, and certainly one of the greatest…
Mr. Speaker, I need not state that last week was a very, very trying, yet very moving week for many Americans because we said goodbye to one of the greatest Presidents I believe in the history of America, and certainly one of the greatest that I have known in my life time, President Reagan. And I think many Americans recall so much about the President, about how he loved freedom and how optimistic he was.
There is a phrase that many people associated with President Reagan when he ran for reelection in 1984, and that phrase was, It is morning again in America.
Well, America has faced a significant economic challenge over the last several years, and that is we have faced a recession. Many people have been hurt by this recession and jobs were lost and businesses were padlocked. But I have to tell you, we have come out of the darkness. We are coming into the light. When we look the at our national economy, again it is morning in America.
One of the proudest days I have had as a Member of United States Congress was the day that I signed my name, co-authored President Bush's economic growth program. Now, that was a program that was all about tax relief, tax relief for American families, tax relief for small businesses, because we know that when you let families and businesses, the American people keep more of what they earn, they will roll up their sleeves. They will work hard. They will create new businesses. They will go out and open an automobile transmission shop on one street corner. They will open a barbecue stand on another corner. They will expand a mobile home business two blocks away.
Mr. Speaker, that is exactly what we see in America today.
Now, many in this body want to debate who is to blame for the recession. Well, I can tell you there have been many, many recessions in the history of America. And I wish there was something we could do in this body to outlaw recessions but we cannot. But we do know that besides the obvious and huge loss of human life on 9/11, what a blow it was to our economy, in the trillions of dollars; not no to mention the stock market, the high tech bubble being burst, the corporate scandals. There are a whole lot of reasons. And we could play a blame game here between the Republicans and the Democrats, but I do not think that is what the American people sent us to Washington to do. They sent us here to work together and solve problems.
Mr. Speaker, in working with the President we have been able to solve a lot of these problems. If you look at where our economy is today, it is just a fantastic recovery that is under way. We are enjoying right now the highest economic growth that we have enjoyed in 20 years. In over 20 years we are seeing the highest economic growth that we have ever seen. And jobs, over a million and a half jobs have now been created over the last 9 months, in a blistering pace in the last several months, all due to President Bush's economic growth program.
Homeownership, the great American dream of homeownership, homeownership is at an all-time high. More Americans own their own homes than ever in the history of the United States of America.
Mr. Speaker, we are talking about the explosive job growth that we have had in our economy, a million and a half jobs in just the last 9 months, people all over America being able to go back to work because of the President's economic growth program.
The stock market is up 20, 25 percent off of its lows, which is so important for so many people that have 401(k) plans that they have to plan for their retirement, and there is so much other good news.
We have other Members that are here to discuss that and how it relates to their congressional districts. Mr. Speaker, at this time I yield to the gentleman from Arizona (Mr. Hayworth), to discuss this further.
Mr. Speaker, I thank the gentleman from Arizona for making time to come down this evening to the floor to discuss the wonderful news that we have had as we talk about the 1-year anniversary of the Jobs and Growth Act of 2003, and obviously there is so much good news to be had in Texas and Arizona and all the other States around the Nation, but there is still work to be done.
At this time, I yield to the gentlewoman from West Virginia (Mrs. Capito), one of the great pro-growth leaders in the Congress, somebody who has made a real difference for West Virginia.
Mr. Speaker, I thank the gentlewoman for her comments and how enlightening they were to enlighten us about what is going on in the State of West Virginia and how under the Jobs and Growth Act of 2003, how jobs are being created, how exports are up, how real income for families is on the rise so that families can go out and afford to spend more money on their education programs, their housing programs, their nutritional programs.
Although there is much work to be done, all this great progress was made possible by an act that at its core was all about tax relief, tax relief for small businesses, tax relief for American families, and Mr. Speaker, as my colleagues know, in the House of Representatives, that means that tax relief comes through our Committee on the Ways and Means. One of the great leaders of that committee, one of the pro- growth leaders in the United States Congress, is here to share his thoughts with us, and I yield to the gentleman from Ohio (Mr. Portman).
Mr. Speaker, I thank the gentleman from Ohio for his great leadership in ensuring that we did have tax relief for American families and small businesses which has ignited this great economic recovery that we are seeing from one shore to the other.
Indeed, there is great news and, indeed, there is still more work to be done. We have to make sure that those in Congress who want to take the tax relief away, raise taxes on the American people yet again, that that policy does not come about in the Halls of the United States House of Representatives.
We are joined tonight by a gentleman from the Committee on Ways and Means who was instrumental in ensuring that we pass the Jobs and Growth Act of 2003 and will be a key leader in ensuring this tax relief is not rolled back.
Mr. Speaker, I yield to the gentleman from Florida (Mr. Foley).
Mr. Speaker, I thank the gentleman from Florida (Mr. Foley) for his comments and thank him for his leadership in ensuring that we had tax relief for American families and small businesses to help this wonderful surge of employment that we have had in the United States.
Again, as we can see from this chart, over the last 9 months almost a million and a half new jobs have been created, and in the last several months at a blistering pace. New jobs for Americans, and these are not just dry statistics that are appearing on some board, but I have the honor and privilege of representing the Fifth Congressional District of Texas which starts in the eastern part of the city of Dallas and takes in several of the suburbs of Dallas County and includes many rural areas in east Texas; and I have seen some great news in that area all due to President Bush's economic growth program.
I was in Jacksonville, Texas, not too long ago in Cherokee County, Texas. I
went to visit a plant called Jacksonville Industries. They are an aluminum and zinc die cast business. They were having trouble in some respects in competing in their marketplace. But once President Bush brought his economic growth package forward and once we passed it in the House of Representatives, all of a sudden they were able to afford a new piece of equipment that previously they could not afford. Now I could not tell you the name of this piece of equipment, I could not tell you what it does, but it is big and makes a lot of noise, and it makes them more competitive in a very competitive marketplace. Prior to being able to acquire this machine, they were on the verge of perhaps having to let two of their workers go because they could not be competitive without having the new plant, the new equipment.
Because of the equipment they were able to buy due to President Bush's tax relief program, instead of potentially laying off two workers, they hired three new workers. That is five people who could have been on unemployment, five people who could have been on welfare. Instead, thanks to our President and thanks to the Republican majority in the House of Representatives, those are five people with a real job, five people who are putting a roof over their own head, putting food on the table, helping educate their children, and realizing their own version of the American dream.
That is how important tax relief is in America to get this surge of economic growth, this surge of jobs that we see being created. I see it all over the Fifth Congressional District of Texas. I see it in the city of Garland where all of a sudden a new CiCi's Pizza franchise opened up just a couple of months ago. They created 30 new jobs in 2 months. In Mesquite, another superb of Dallas, a wonderful community, Coleman Homes, a home builder who came to Mesquite in 2002, has almost doubled their number of employees in just 2 years building homes.
Because as we said earlier, Mr. Speaker, we are enjoying the highest rate of homeownership that we have ever enjoyed in the history of the United States of America, thanks again to President Bush's economic growth program and a Republican majority in this House that would pass it.
In Dallas where I live in the Lakewood neighborhood, because of the economic growth, a new bank opened. They put in $600,000 to renovate an old building that went to builders and carpenters and refinishers, and in just 3 months they have added 12 full-time jobs to help serve all the demand as businesses grow and need the capital that the bank can provide. The stories go on and on and on.
Mr. Speaker, I know that tax relief works. I see it in the Fifth Congressional District of Texas. We see it all over America, and it is not just the evidence we have today. It is the history. As we mourn the passing of one of the great Presidents of the United States, President Reagan, we have to remember tax relief worked again in his administration. We cut marginal tax rates, and we had an explosion of economic activity, and we had more tax revenue come into the government as well.
Mr. Speaker, there is other good news around this Nation. There is lots of good news, and that does not mean our work is done. We have much work to be done. We will not stop until every American who wants a job has a job. But another great leader that we have had in making sure that we have pro-growth economic policies for our Nation, to make sure that we create jobs in every corner of America is a great colleague of mine and cochairman of the Washington Waste Watchers, which has been on the vanguard of fighting waste, fraud and abuse in America.
At this time I would like to yield to the gentleman from Indiana (Mr. Chocola).
I thank the gentleman for his comments. I especially thank him for reminding all of us that the government had nothing to do with this. It was the American people who went out and created these jobs. Not unlike my colleague from Indiana, I was a small businessman before I was elected to Congress. Government does not create jobs. Men and women who go out and risk capital and roll up their sleeves and work hard, they are the ones who create jobs in America. But for them to do it, government has got to get out of the way. Too many taxes destroy jobs. Too many regulations destroy jobs. Too much litigation destroys jobs. Fortunately due to President Bush's economic growth plan, due to this Republican majority in Congress, we took a huge step in providing this tax relief that has provided almost 1.5 million jobs in 9 months.
Mr. Speaker, I yield to the gentleman from Florida (Mr. Mario Diaz- Balart), another great leader we have had on economic growth issues in the United States Congress, a gentleman who is the cofounder of the Washington Waste Watchers.
I thank my colleague from Florida for his wonderful comments and helping remind us that again there are two very different visions for economic growth in America. In one vision again is tax relief for small businesses, the job-creating engine in America. Another is tax increases on business, tax increases on families. It is often said that one is entitled to their own opinions but one is not entitled to their own facts.
Let me review again what has happened in the last 9 months. We have added almost 1.5 million new jobs in the last 9 months. And look at this. Look at the blistering pace in just the last 3 months of job creation in this economy due to tax relief. Look at this. The greatest economic growth in almost 20 years under this program, under President Bush's tax relief program, the greatest economic growth in almost 20 years. Look what is happening to the unemployment rate. It is going down. Job creation is going up. Unemployment is going down. Incomes are up. Family incomes are up. These are not just jobs. We are seeing good jobs, good job growth in the American economy. Again that foundation of the American dream, homeownership, is at an all-time high.
Now, Mr. Speaker, the question is where do we go from here, because there is work to be done. We do not want to rest until every American who wants a job has a job. We want to make sure that we have more tax relief, that Americans can go out and create more businesses and expand more jobs, so that every American can realize his American dream, that he can invest in his housing program, in his nutritional program, in his education program. But our friends from the other side of the aisle, they want to raise taxes on the American people. Mr. Speaker, we cannot tax our way into prosperity. That is a battle being fought in the House now. And another battle we are trying to fight, we want to reduce the litigation in America. Too often we do not love our neighbor, we sue our neighbor in America. There is something fundamentally wrong when it is easier to sue a doctor than it is to see a doctor.
There is something fundamentally wrong when one can sue McDonald's for millions of dollars because they spill hot coffee on oneself. Excess litigation hurts job growth. That is another difference between the Republicans and the Democrats.
And how about too much regulation? I know as a small businessman the huge regulatory burden on our economy. It is almost $8,000 per American family. How many mortgage payments is that for the average American family? How many semesters of college is that? Instead, we are paying more in regulation costs. We want to bring down that regulatory cost. The Democrats want to increase that regulatory cost.
Litigation sends jobs overseas. Regulation sends jobs overseas. And taxation sends jobs overseas.
We need to thank President Bush for his principled leadership in all the job growth that he has created in the economy.