Legislative Update by Congressman Mike Ross
Jobs and Growth
The Search for a Stimulus
 
May 9, 2003
 
This week in Congress, we took up H.R. 2, the Jobs and Growth Reconciliation Tax Act, introduced by the Republican leadership.  Unfortunately, what began as a discussion over how to stimulate our economy has turned into head butting over whose hands to put money into.  The tax cut debate has degenerated into nothing more than class warfare, with still no guarantee that any of the provisions being offered will provide what we need most of all; new jobs.

I’m sick and tired of all the partisan bickering that goes on in our nation’s Capitol.  Rather than shout about what we’re not going to support, Congressman Marion Berry and I offered a solution.  H.R.2 will spend $550 billion to create only one million jobs, we’ve come up with a plan to spend $441 billion – that’s $109 billion less than the Republican bill – to create more than 18 million new jobs.

The Ross-Berry amendment would strike the House-proposed so-called economic stimulus plan, and instead spend one billion dollars in every Congressional District solely on transportation and infrastructure.  For every billion dollars spent on roads, 42,000 new jobs are created.  Our amendment would create 42,000 new jobs in every Congressional District in America.

Some of you heard President Bush speak in Little Rock this week about the need to cut taxes on dividends, well let me tell you how Arkansans would benefit from such cuts.  In the tax cut proposal under debate, 80 percent of Arkansans who work for a living and pay taxes would get back less than a dollar a day.  Under the Ross-Berry amendment, 100 percent of Arkansans would benefit from the immediate economic stimulus of improved transportation infrastructure.  Unfortunately, the House Republican Leadership refused to let our amendment be considered on the House floor, and insisted on pushing their more expensive and less effective bill forward. 

I was one of 28 Democrats who supported President Bush’s tax cut in 2001, the largest tax cut in 20 years, totaling $1.3 trillion, because we had a surplus to pay for it.  That is not the case with this plan, and I refuse to support it.  By passing a second tax cut during a time when our country has returned to deficit spending, Congress will only increase our national debt and force our children and grandchildren to pay for it.


Next                                                        Previous
Radio Address            Radio Address List            Radio Address