The Economy
My number one priority is putting people back to work. We need jobs for Americans now. We need certainty in our economy now. We need to stop shipping jobs overseas, and we need Congress to work together to pass legislation to ensure people and businesses have the opportunities to get back to work, grow and prosper. I continue to support the "Make it in America" Agenda which is a series of measures I believe will help us increase our manufacturing and put Americans back to work. The best way to reduce our deficit is to repair our economy and get America working again. Congress should put America back in business through innovation, education and rebuilding our nation.
The United States went through its longest and worst economic recession since the Great Depression between December 2007 and June 2009. 8.8 million jobs were lost and $19.2 trillion in household wealth was lost in home equity values and losses in the stock market. Our economy is stronger today because of the strategies we adopted and the financial reforms now being put in place. This, in turn, has allowed our economy to return as an engine for growth, job creation, and innovation. Although we still have more progress to make, we have had 12 straight quarters of positive GDP growth and 24 months of positive job growth.
Tax Reform and the Budget
I believe our tax code should be reformed in a simple and fair way which is more conducive for economic growth. By eliminating certain individual and corporate tax loopholes favoring a few specific interests, we can lower the individual and corporate tax rates for all Americans. Furthermore, eliminating specific loopholes can create a more efficient and equitable tax code delivering broader economic growth than currently structured.
We have to reduce our national debt, and to do that we have to responsibly look at both sides of the ledger, expense and income. That's the way businesses get ahead, and that's the way America will get ahead. We are all in this together to provide opportunity to all Americans and to find solutions to our country’s challenges. Seniors and hardworking Americans in the middle shouldn't be required to pay more than millionaires and billionaires.
Democrats and Republicans alike have to cooperate on these important issues. I'm going to keep working in Congress to make responsible reforms to our tax code so we can help put people back to work, foster economic growth and create good, stable American jobs for our future.
Housing
For years, Wall Street and unregulated financial institutions were not held accountable for their actions. Since the beginning of the financial crisis, federal and state regulators vigorously pursued litigation and enforcement actions against these institutions. Recently, Attorney General Eric Holder, Housing and Urban Development Secretary Shaun Donovan, with Colorado Attorney General John Suthers and 48 other State Attorneys General announced a settlement with the five leading bank mortgage servicers which will result in approximately $25 billion in monetary sanctions and relief. Colorado will get approximately $204.6 million, which will go toward principal reductions and refinancing, cash payments and housing programs.
For more information about this settlement, or to find out who to contact if you think you are eligible for a modification or payment under this settlement, visit www.nationalmortgagesettlement.com.
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