No Cost Stimulus Act of 2009
I, along with 14 of my colleagues, introduced the
No Cost Stimulus Act of 2009 (S. 570) with the specific goal of job creation and economic stimulus without borrowing or issuing new debt for which the next generation will be responsible – in other words, actually stimulating the economy by creating jobs, freeing up resources, and streamlining environmental review processes that have choked U.S. businesses and development.
An approach directed towards energy development and production provides a multitude of benefits for the United States economy and energy future. Some of the benefits of this legislation include:
1. Saving or creating more than two million long-term, sustainable, and well paying jobs.
2. Dramatically increasing GDP that could well exceed $10 trillion over the next 30 years.
3. Reducing the cost of energy to manufacturers, all U.S. businesses, and families. On top of helping businesses compete internationally it reduces the cost of a key input so that resources may be used on other purchases or employee hiring.
4. Freeing up resources for families. The impact of this bill has the equivalent impact of receiving a stimulus check. As the price of energy decreases a family may direct the extra money towards other needs.
5. Importantly, achieving these goals while not incurring huge amounts of debt payable to foreign governments and leveraged against our own children’s future.
6. Directly and significantly reducing our dependence on foreign oil.
The No Cost Stimulus Act is supported by the Alliance for Worker Freedom, Americans for Tax Reform, the National Association of Manufacturers, the National Black Chamber of Commerce, and the U.S. Chamber of Commerce.
Cosponsors of the bill are Senators John Barrrasso, Chris Bond, Jim Bunning, Tom Coburn, Thad Cochran, John Cornyn, Jim DeMint, John Ensign, Michael Enzi, Kay Bailey Hutchison, James Inhofe, James Risch, Jeff Sessions, and Richard Shelby.
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