Schock Scores Key Ways and Means Subcommittee Appointments
Will serve on Trade, Oversight, and Social Security Subcommittees
Washington,
Jan 6, 2011 -
Schock Scores Key Ways and Means Subcommittee Appointments
Will serve on Trade, Oversight, and Social Security Subcommittees
Washington, DC – Congressman Aaron Schock (IL-18) today received his Ways and Means Committee subcommittee appointments. Traditionally most committee members serve on two subcommittees but Schock was appointed to serve on three: Trade, Oversight, and Social Security.
Schock’s appointment to the highly coveted Trade subcommittee is especially relevant to the 18th District because of the synergy of economic interests relying on international trade to export products and commodities produced in Central and Western Illinois. 50% to 70% of products the high-wage manufacturing employees produce, along with all agriculture commodities are exported. The USA has 5% of the world population and trade expansion allows products grown or manufactured here to be sold to the other 95% of the world population. Trade expansion is vital for jobs and a growing economy in Illinois.
The subcommittee on trade has oversight over reciprocal trade agreements including multilateral and bilateral trade negotiations and implementation of agreements involving tariff and nontariff trade barriers. Current trade negotiations include the pending free trade agreements with South Korea, Colombia, and Panama. “Expanding opportunities for domestic businesses by reducing barriers of access to customers has been a focus of mine over the past two years and the trade subcommittee places me on the front row to advocate for expanding free trade and promoting economic growth.” Schock added.
“Aaron is all about creating new jobs, so he will make a great addition to the trade subcommittee. He’s been an outspoken champion of expanding American trade opportunities since arriving in Congress,” said Trade Subcommittee Chairman Kevin Brady of Texas. “We both agree that free trade is an important link to finding new customers and creating economic growth. It’s important to allow U.S. business entrepreneurs the chance to sell their goods to new markets around the world in order to stay competitive and create jobs here at home.”
The subcommittee on oversight has jurisdiction over existing law in relation to the Internal Revenue Code and other revenue issues. In the months ahead this subcommittee is expected to be tasked with reviewing portions of President Obama’s health care law.
The subcommittee on social security has oversight on issues related to the Federal Old-Age, Survivor’s and Disability Insurance System, the Railroad Retirement System, and employment taxes.
“I’m looking forward to being a strong advocate this year on the committee and to continue to voice my support for a tax system that offers individuals more economic opportunities, not limits them,” Schock said. “I believe reducing the tax burden on individual Americans and businesses is the best way to spur job creation in the private sector, and it’s a smart thing to do to help hard working families in Illinois. We have a lot of important work ahead of us on the committee and I look forward to playing an active role.”
“I look forward to Aaron being a great advocate for us on the committee this year,” Ways and Means Chairman Dave Camp of Michigan said. “His selection to serve on the trade, oversight, and social security subcommittees is a testament to his commitment to a sound fiscal policy that will be important to us as we work together to create jobs and get our economy back on the right track.”
As a former small business owner and State Legislature, Schock continues to hold a fundamental belief that the role of government is to enact policies to create an environment to help grow the economy and the private sector.
As a member of the Ways and Means committee, Schock wants to continue to advocate for reducing the tax burden on individuals and small businesses. This includes everything from a temporary payroll tax suspension to a small business tax deduction equal to 20% of business income. He states he will fight for a repeal of the new 1099 requirement, push for medical liability reform to bring down the cost of healthcare, and ensure that the remaining Stimulus money is rescinded and sent back to taxpayers. Schock also would like to see the tax code simplified and see a reduction in the marginal tax rates, as well as a permanent AMT fix.
