Norbert from Rochester:

I heard about the bill you recently introduced, the Family Security and Small Business Stimulus Act.  How would your bill help small businesses?

Norbert, in addition to helping families keep more of their hard-earned income, the Family Security and Small Business Stimulus Act will help small businesses by allowing them to expense more of their purchases.  For the next two years, my bill will triple the amount of purchases small businesses are able to expense, from $125,000 to $375,000 per year.  After that, the expensing limit will be permanently set at $125,000 per year, indexed for inflation.

When a small business knows it can expense a new purchase, it is more likely to make the investment.  Enabling small businesses to invest in new equipment and expand their operations will promote significant economic growth at a time when job-creation is crucial.  Tripling the limit for the next two years will allow small businesses to make larger investments now.  Making the $125,000 limit permanent after the two years will help small businesses plan their continued growth over time.  It is this balance of targeted help now coupled with permanent tax relief that will revitalize the economy today and sustain its strength for the future.

Mike, Waterford: What steps are you taking to make college more affordable?

Mike, college tuition continues to rise at a rate that prevents individuals from attending college. Over the past five years, the cost of obtaining a college education has increased by 35%. I believe we must keep college affordable to ensure our kids have the skills to compete in a global economy and help us build the new Michigan economy.

Recently, the House of Representatives passed the America Competes Act, with my strong support. This bill includes scholarships to students majoring in science, math, or engineering in order to increase the number of math and science teachers in our nation. This legislation also included measures that will provide extensive higher education teacher training through math, science, and technology college preparatory courses.

I also supported the College Cost Reduction Act, which cuts the student loan interest in half and provides additional funding for critical student aid programs like Pell Grants.

In order for America to remain an economic leader, we must ensure that we are leaders in the fields of math, science, and engineering. America has always been a leader in technology and innovation and must continue to put a renewed focus on this type of education. Our kids must learn the skills necessary to compete for the high-tech, high-paying jobs of the future.

That is why I have introduced the Henry Ford Scholarship Program Act, which would provide a $5,000 annual scholarship to students who graduate high school with a 3.5 grade point average and pursue major in math, science, engineering or health care in college.

I have also introduced the Student Financial Readiness Act of 2007, which would increase the amount of money that working families can invest in education savings accounts from $2,000 to $5,000 a year.