The slowing economy, high gas prices, and turmoil in our financial markets are of great concern to all Americans. It is clear that Congress must work together in a bi-partisan manner to get our economy back on the right track and provide stability to middle-class families, investors, and small businesses during this difficult time. Earlier this year, Congress passed an economic stimulus package to help fuel the economy. Under the package, over 111 million households will receive tax refunds ranging from $300 to $1200. It is estimated that 1.9 million Louisianans will benefit from these rebates. Congress also took unprecedented action to help stabilize the housing markets and provide needed assistance to distressed homeowners. These are important first steps – but more must be done to promote economic growth and market vitality.
First and foremost, Congress must address our nation’s energy crisis and act now to increase American oil and gas production while we transition to alternative and renewable fuels. I continue to push Speaker Nancy Pelosi to allow a House vote to lift the Congressional moratorium on offshore oil and gas production in our coastal waters. In Louisiana, we have proven that exploration and production can be done in an environmentally safe manner that produces high-quality American jobs which help to spur economic growth. Congress should not adjourn for the year without producing a comprehensive energy bill that offers real relief to American consumers.
I also believe we must restrain government spending and keep taxes low to boost the economy and will continue to fight proposals in Congress to raise taxes to pay for more government programs. Earlier this year, I voted against the Democrats’ budget proposal to raise discretionary spending by $241 billion above the President’s request over 5 years, while doing nothing to reform key entitlement programs to ensure their sustainability or reign in government waste. The Democrats’ budget imposes on American workers and businesses a record-setting $683 billion tax hike to pay for more pork barrel spending. That’s about a $2,600 per year increase for most Louisiana taxpayers. It’s time to restore fiscal sanity to the federal budget and give hard-working Americans tax relief.
Fundamental tax reform will provide a fairer and simpler system and keep taxes at a reasonable rate. I am a strong supporter of the middle-class tax relief packages that included marriage penalty relief, a child tax credit, and a reduction on the taxation of savings. These tax cuts, aimed at helping American families, need to be made permanent.
One important tax measure that needs to be eliminated is the “Death Tax.” This unfair tax hits American families when they least deserve it – right after the passing of a loved one. Unfortunately, many families have been forced to sell their land or close the family business (including the family farm) just to pay the Death Tax. The Death Tax can seize up to half of a dead person’s assets. The Republican Congress acted in 2001 to phase out the Death Tax with a complete repeal in 2010. However, if Congress does nothing, the Death Tax will be reinstated in 2011. I have voted many times to permanently repeal the Death Tax and will continue to push for legislation to ensure it is abolished.
Congress must also address skyrocketing health care costs to promote long-term economic growth. I’ve co-sponsored legislation to help make health insurance coverage more affordable and portable between jobs. We must do more to empower health care consumers and providers with better information about health care costs and quality, and protect patients’ control over their individual treatment decisions. Congress can also be effective in pushing our health care system to improve treatment outcomes, limit waste, reduce waiting times, and improve patient satisfaction.
I will continue to advocate for proposals to help lower gas prices, provide much needed tax relief, and reign in out-of-control federal spending to help boost U.S. economic growth. I am always eager to hear from my constituents. If you would like to speak with my staff about economic and tax issues, please contact my Washington, D.C. office at 202-225-2031.
