Press Release

BUCHANAN OPPOSES LARGEST SPENDING BILL IN HISTORY

Washington, DC -- Congressman Vern Buchanan (FL-13) voted today against the proposed $825 billion economic stimulus package saying it would dramatically increase the national debt but do little to immediately boost the economy. 
“There is nothing more important than rebuilding our economy and creating jobs,” said Buchanan.  “But the bill before us would explode the debt while doing little to jump-start the economy and put people back to work.” 

The non-partisan Congressional Budget Office (CBO) says only 20 percent of the $825 billion will be spent this year, with the remainder spent over the next five to ten years.  “Florida families are hurting now,” added Buchanan.   

Although the proposal has been billed as a transportation and infrastructure investment package, only three percent of the proposed funding would be for road and highway spending.  Instead the bill includes billions of dollars for federal subsidies, pet projects and bureaucracy, including $600 million to buy new cars for the federal government and $275 million to upgrade computers at the State Department.

“This is the largest single spending bill in history,” said Buchanan.  “We already have a $10 trillion debt.  It would be irresponsible to borrow another $825 billion and pass this massive debt on to our children and our grandchildren with no reasonable expectation that it will help immediately create jobs.”    

The Florida lawmaker supported an alternative bill that would have cost half the money and created twice as many jobs. 

Buchanan met earlier this week with the President and his top White House economic advisor, Lawrence Summers, the director of the National Economic Council.

“I applaud President Obama for making jobs and the economy a priority and appreciate his willingness to meet recently with Republicans in the House,” added Buchanan.  “But I have to consider this bill based on what is best for American taxpayer and my constituents.”

The 13th District Congressman supports tax relief for small businesses and individual taxpayers, assistance for working, middle class families facing default and foreclosure, and federal funding for “shovel ready” public transportation projects to provide an immediate boost to the economy. }