Job-Killing Principles

Spend what you do not have. Runaway stimulus and bailout spending has caused our national debt to reach record levels, allowing it to be financed by China and giving China leverage on the global stage.

Increase energy taxes. Cap-and-trade energy bills like the ones currently before Congress create a national energy tax that would increase energy costs and kill jobs while unemployment stands at almost 10 percent.

Raise taxes on small business and American families. The Bureau of Labor Statistics recently reported that the economy lost 131,000 jobs in July. 15 million Americans are trying to find work. Raising taxes in the midst of a struggling economy would be detrimental to small businesses and further cripple the economy.



Job Creating Principles

Make tax cuts permanent. Implementing lasting tax cuts will help to restore economic freedom in the United States and put our country on the path to a brighter future. The Economic Freedom Act (H.R. 5029), which I have cosponsored, would reduce taxes for American businesses and families.

Decrease burdensome regulations on small businesses. Small business and entrepreneurs are the cornerstone of our nation's economy. In our current economic situation, it is ever more critical that we support our small businesses by continuing pro-growth policies like lowering taxes, simplifying the tax code, and reducing burdensome regulations.

Lower the debt. Our national debt is expected to reach 93.1% of our GDP this year. Economic experts say even a 1 percent increase in GDP can create almost one million jobs. A commitment to decreasing the debt is a job-creating principle, which is why I have introduced a bill to cut government spending by 40% over the next five years.

As you may know, the federal income tax cuts passed into law in 2001 and 2003, such as the child tax credit and marriage penalty relief, are set to expire at the end of this year.  I believe raising taxes on anyone in our current fiscal climate would be a mistake.

I want to know what you think about these impending tax cuts and other tax issues facing Americans. Take a moment to share your thoughts with me and answer these 5 questions on taxes. Click here to take the survey.

The White House announced last week that the United States will likely have another record deficit this year – $1.47 trillion.

At the same time, Secretary of the Treasury, Timothy Geithner, attempted on two occasions to make a case for allowing existing tax cuts to expire later this year. Geithner said that he believes the responsible thing for the federal government to do is to let the tax cuts expire, “to make sure we can show the world” that America is “willing as a country now to start to make some progress bringing down our long-term deficits.”

I believe Mr. Geithner is wrong - the federal government doesn't tax too little. The federal government spends too much.

Raising taxes will not create jobs and it will not provide the certainty we need for American business owners. It is unfair for Washington to continue to spend money in droves and expect American taxpayers to foot the bill.

I want to hear your thoughts. Do you think it is a good idea to let existing tax cuts expire at the end of this year? How would tax increases impact your family or business?

I want to share with you this article I read in the Wall Street Journal that highlights just one of the reasons I introduced a bill to prohibit the IRS from hiring, transferring, or appointing individuals for positions used to enforce government-mandated healthcare. You can read more about my bill here.

1. Balance the Federal Budget
We need a deliberate mechanism to get spending under control. A Balanced Budget Amendment to the Constitution (H.J.Res.1) would force Congress to enact fiscally responsible spending measures and reduce the deficit.

2. Address Imbalances in Entitlement Spending
According to the nonpartisan Congressional Budget Office, if future taxes are held at the historical average, entitlement spending will consume all tax revenues by 2052, leaving no revenue to pay for other government spending, including spending mandated by the Constitution, like defense. We need to reform the entitlement system. The Securing America's Future Economy (SAFE) Commission Act (H.R.1557) would establish a Commission to develop legislation that is designed to address the imbalances in entitlement programs and determine necessary revisions to the budget process to create greater emphasis on long-term fiscal responsibility. Congress would be required to vote up or down on the panel's recommendations.

3. Limit the National Debt
The Treasury Department recently announced that our national debt will reach $13.6 trillion this year.  Over the past two years, we have seen debt levels not seen before in our nation’s history and our national debt limit has been increased five times. Mandating a 2/3 roll call vote in both the House and the Senate in order to raise the debt ceiling (H.R.4262) would make it more difficult to increase the federal debt limit.