Reviving our Economy

I support a responsible and immediate economic stimulus plan for every American family and business. This should come in the form of tax relief and tax cuts, the easiest and most effective way to stimulate the economy. We can start with a permanent 5% decrease in every income tax bracket, as well as the permanent reduction of the corporate income tax from 35% (the second highest rate in the world) to 25%. Economic growth needs to come from the ground up, starting with working families and businesses. History has shown that the best way to encourage that growth is to leave more money in the pockets of the American people.

The Republican Study Committee proposed a comprehensive plan for tax relief and economic growth in early 2009, and I continue to think it offers the most effective form of stimulus. Click here to read my column, “A Stimulus That Works,” to see the details of this plan.

As we move forward, members in both parties need to work together to provide the best economic recovery plan possible and to focus on areas of agreement. I firmly believe the federal government cannot borrow and spend the American economy out of a recession, and that any attempt to do so will simply saddle future generations with a mountain of debt. Tax cuts, on the other hand, provide proven results and are supported by both liberals and conservatives in Congress. It is here where we should focus our efforts to provide effective and responsible help to hardworking Americans and businesses.