Economic Growth

The American economy is the world’s most dynamic, productive marketplace. It’s also the most free. By rejecting crippling tax policies and overly burdensome regulation, America has encouraged economic growth and job creation. In the 21st century, it is more important than ever that we support policies that recognize Americans today are entrepreneurs and investors.

Wall Street and Main Street are no longer so far apart. A new “Investor Class” claims over fifty percent of the nation. The expanding availability of IRAs, 401(k)s, and other long-term investment plans are allowing Americans at all levels to save for retirement, home purchases and college tuition, while at the same time providing the fuel for economic growth capital to industries ranging from Blue Chips to high-tech start-ups.

America's tax policies must change with the times to encourage future prosperity by encouraging reinvestment and entrepreneurship rather than penalizing risk.

Greater tax relief is key to putting more money in the pockets of every taxpayer. Rep. Frelinghuysen has helped our economy create a record level of new jobs and reduce unemployment to below pre-9/11 levels. As the economy grows stronger, New Jersey also continues to be a nationwide leader for job creation.

Thanks to lower taxes and more revenue coming into the federal treasury, our national economy has created more than 8.1 million jobs since August 2003, the longest period of continuous monthly job growth on record – more new jobs than all the other major industrialized countries combined. Real gross domestic product has increased, productivity is rising, inflation is down, and the national unemployment rate is close to its lowest level in six years.

To relieve the burden of taxation on working families in northern New Jersey, Frelinghuysen continues to support legislation that reduces the Alternative Minimum Tax (AMT), eliminates the marriage penalty tax, increases the child tax credit, and eliminates the “death” tax.

To help create a more business friendly climate in New Jersey, the Congressman also works closely with local and county Chambers of Commerce, the New Jersey Chamber of Commerce, the New Jersey Association of Women Business Owners, the New Jersey Business and Industry Association, the Somerset Business Partnership, the National Federation of Independent Businesses, and the U.S.Small Business Administration.

Well known at home and on Capitol Hill for his fiscally conservative views on government spending, taxes and the economy, Frelinghuysen continues to fight excessive government spending. His focus on greater fiscal discipline and less taxation have earned him the “Hero of the Taxpayer” Award from the Americans for Tax Reform as well as recognition from the U.S. Chamber of Commerce, the National Association of Manufacturers, and the National Federation of Independent Businesses.

International trade has allowed New Jersey to puts its mark on the global marketplace.  Situated at the epicenter of the nation's largest business corridor, New Jersey is an ideal location for international business.  The State’s location places it within a 24-hour truck trip radius of more than 100 million consumers with a collective purchasing power of $2 trillion.

As the nation's 12th largest exporting state, more than $21.1 billion of New Jersey products were exported to overseas markets in 2005 alone.

Trade is more than an economic boon. Reaffirming our role as a global leader, American support for trade is support for freedom. Creating opportunity for entrepreneurs and encouraging the free flow of information, free trade is distinctly democratic and does much to further the creation of free and open societies.

As a leading advocate of international free and fair trade, Congressman Frelinghuysen has made a top priority of expanding opportunities for American businesses and workers. Increasing access to foreign markets for New Jersey’s goods and services is a primary cause of the unprecedented economic growth that the U.S. economy has seen over the past two decades

For America to continue to lead the world in economic opportunity and innovation, the Congressman believes we must:
• Emphasize mathematics and science in the classroom
• Make health care more accessible and its costs more affordable
• Reduce the lawsuit burden on our economy
• Ensure we have affordable and reliable energy sources
• Streamline regulatory and reporting requirements
• Open new markets for American products
• Support education opportunities for all those who seek a higher education
• Encourage the expansion of a favorable environment for additional private-sector investment in innovation