U.S. Congressman Mike Pence : 6th District Of Indiana

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Economy

“We can renew the American dream by lifting the burden of taxes off families, small businesses and family farms so they can once again dream and build a better life for their children and grandchildren.”

--Congressman Mike Pence

Our economy officially entered a recession in March of 2001 after a slowdown in 2000. The economic downturn was exacerbated by the terrorist attacks of September 11. While the recession is officially over, many of the residents in Indiana’s 6th Congressional District are still experiencing tough times. Congress must continue to enact policies that encourage not only economic growth, but also job growth.

As a conservative, I believe that economic freedom is the key to returning America to prosperity. To this end, I believe that Congress must continue to reduce the tax burden on the American family.

At home, east central Indiana has been affected by the recent economic slowdown and this translates into growing uncertainty about jobs. I am deeply concerned about the threat of growing unemployment.

While I am confident that east central Indiana remains an excellent place to do business, we must act now to save the jobs of Hoosiers. That is why I have been involved in a number of events to promote job growth and protect the jobs of Hoosiers:

Job Fair. I host the annual 6th Congressional District Job Fair. More than 1,500 Hoosiers annually attend the event. Businesses, municipalities and universities are all committed to hiring Hoosiers as the economy moves toward a sustained recovery.

Downtown Anderson. I am encouraged by the recent investment in the restoration of downtown Anderson, Indiana. I look forward to Anderson becoming a center of economic activity as this facelift draws visitors and businesses.

Taxes

The current tax code, with its 45,000 pages of regulations and laws, creates a negative impact on the American family, business profits and job creation.

As a strong supporter of the traditional two-parent family, I will always work toward a family-friendly agenda, including a tax code that doesn’t punish traditional families by taxing married couples at a higher rate than single individuals.

Further, the current tax system makes American companies less competitive in international trade and discourages them from investing foreign profits back in the United States. It also discourages exportation and encourages production in foreign countries, which has a direct and negative affect on American jobs.

Congress must lift the burden of taxes off families, small businesses and family farms, and I pledge to work tirelessly in Congress to achieve that end.

I believe the tax cuts I voted for in the Economic Growth and Tax Relief Act need to be made permanent. If we allow the tax cuts to sunset in 2010 as they are scheduled to do, the American people will be subject to the largest tax increase ever.

Growth-oriented tax cuts, such as a capital gains tax cut and proposals to end the double taxation on dividends are the most effective means to wider reform of the tax code. These cuts would stimulate the economy, while reducing the burden on America's families.

While a tax cut is a step in the right direction, there must be systemic reform if we are to simplify the tax code and spur economic growth. Tax reform should be built upon four basic principles:

-Single low rate of taxation for all Americans
-Elimination of bias against savings and investment
-Equal treatment of all taxpayers
-Simplified tax code and tax filing

I believe that a strong Main Street is just as important to America’s financial health as a strong Wall Street. By following these principles, Congress can lighten the heavy tax burden on America’s working families, small businesses and family farms, thus keeping them strong well into the next century.