Economy PDF Print
Wednesday, 01 April 2009 12:07

With Arizona and the nation battling the current economic crisis, Congressman Mitchell is continuing his work to create jobs in Arizona and grow our state's economy.

Congressman Mitchell has emphasized lower taxes for families and small businesses, incentives for solar energy and green jobs, as well as strong support for airports, highways and roads as driving forces for a strong economic future in Arizona. In addition to his work on these key issues individually, he supported the American Recovery & Reinvestment Act, which provides tax cuts and critical investments, and is expected to create approximately 70,000 jobs in Arizona, over the next two years.

The American Recovery & Reinvestment Act, also known as the Economic Stimulus, provided fast-acting tax relief to 95 percent of Americans, reportedly the largest tax cut in U.S. history. Among other things, the measure included a new tax cut of up to $400 for an individual or $800 for married couples, $250 to eligible Social Security recipients, and an $8,000 tax break for first-time home buyers to help address the nation's housing crisis. The Recovery Act also makes key investments in clean energy, infrastructure, education and many other areas important to the nation's long-term economic security.

Congressman Mitchell has worked to address the housing crisis, which has hit Arizona harder than almost every other state. In addition to cosponsoring legislation to provide tax breaks to all eligible home buyers, not just first-time buyers, Congressman Mitchell helped pass the Helping Families Save Their Homes Act of 2009 which provides incentives for lenders, servicers and homeowners to reduce mortgage payments through voluntary loan modifications and facilitates refinancing options for homeowners, including those with little or no equity in their homes. Mitchell also hosted a Foreclosure Prevention and Survival Workshop and has set up an online resource center to help Arizonans access the information they need to help protect their homes

Since taking office in 2007 Representative Mitchell has worked to tap Arizona's potential to be the leader in solar energy. Congressman Mitchell successfully fought to extend the 30 percent solar investment tax credit which would help Arizona's solar industry grow and expand. It is also essential to Arizona Public Service's and Abengoa Solar's efforts to build the Solana Generating Station south of the Valley that would supply power to more than 70,000 homes. The Solana station would be the largest solar plant in the world and create hundreds of new "green" jobs.

Sky Harbor and Phoenix-Mesa Gateway airports are major Valley economic engines. As a member of the House Transportation and Infrastructure Committee, Rep. Mitchell has secured needed resources to help the airports increase their economic impact.

Congressman Mitchell is also working to help small businesses by keeping taxes low. He has voted against three Democratic budgets that did not extend key tax cuts and has introduced bipartisan legislation each Congress to make cuts to the capital gains and the estate tax permanent.

Additionally, Representative Mitchell has worked to change out-dated funding formulas that have hurt Arizona. In 2008, Congressman Mitchell secured a change in federal highway law to enable Arizona to receive a higher federal funding share for priority highway projects.

During the economic downturn, Congressman Mitchell has also fought to protect consumers. He cosponsored a bill that passed the House of Representatives that is designed to protect credit cardholders against arbitrary interest rate increases and prevent unfair penalties for cardholders who pay on time.


 
Washington Office • 1410 Longworth House Office Building • Washington, D.C. 20515 • (202) 225-2190 • view google map
District Office • 7201 East Camelback Road, Suite 335 • Scottsdale, Arizona 85251 • (480) 946-2411 • view google map
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