The Week Just Past: Get Off Out Of The Way of Business

President’s Jobs Bill: $200k per job!

Obama Jobs Bill Takes Aim at Charities

Discouraging Homeownership

Health Premiums Rise After Year #1 of Obamacare Law

The U.S Government as Venture Capitalist??

Rodney Reaching out to local students

Disaster Assistance Flows into New Jersey

Where to Get Help

New Operating Hours for Local Disaster Recovery Centers

The Week Just Past: Get Out Of The Way of Business

“While President Obama was delivering his political manifesto across the country for his $400 billion ‘son of stimulus’ package, I was meeting with New Jersey businessmen and women across my Congressional District. I have no idea what the President is hearing from the people he met in Hollywood and elsewhere, but I listened to business people and their employees tell me how hard it is to ‘make it’ today.  They want to expand their companies and hire additional workers but they need more certainty on taxes, fewer bureaucratic regulations and a boost in consumer confidence. 

“In short, they want the government – federal, state and local – to get out of their way so they can get on with what they do best – create jobs. 

“They agree that we don’t need more stimulus style spending.  We need to focus on making it easier for businesses, large and small, to operate and grow.

“And using harsh political rhetoric to attack successful businesses and promote class warfare seems contrary to the concepts and principles that have made America the great nation that it is today! “

                                                Rodney Frelinghuysen

Recommended Reading: Noted investment advisor Charles Schwab writes that we need to remove the roadblocks to innovation and growth.  “We cannot spend our way out of this. We cannot tax our way out of this. We cannot artificially stimulate our way out of this. We cannot regulate our way out of this…What we can do—and absolutely must—is knock down all hurdles that create disincentives for investment in business. Proposed laws and regulations should be put to a simple test: What will this do to encourage businesses and entrepreneurs to invest? What will it do for jobs?” Read his piece, “Every Job Requires an Entrepreneur. Someone took risks to start every business—whether Ford, Google or your local dry cleaner” in Wednesday’s Wall Street Journal here.

President’s Jobs Bill: $200k per job!

As President Obama and his Cabinet continue their campaign for passage of the “American Jobs Act, Treasury Secretary Timothy Geithner pointedly declined to dispute a Harvard economist’s estimate that each job in the White House’s jobs plan would cost $200,000.

And he also pointed out, in an interview with ABC News that “there is no other option on the table for getting the economy moving and putting more people back to work.”

Secretary Geithner must not be paying attention.  For example, Rodney is advocating a pro-growth action plan that is focused on private sector job creation and economic expansion that addresses current economic challenges, promotes innovation and investment, and helps job creators without raising taxes on working families and small business owners:

ØEmpower Small Business Owners and Reduce Regulatory Burdens byauditing existing and pending regulations to correct those that hinder economic growth;

ØFix the Tax Code to Help Job Creators bystreamlining tax laws and lowering rates for businesses and individuals including small business owners to 25%;

ØIncrease Competitiveness for American Manufacturers by opening new markets to American-made goods by immediately passing three pending free trade agreements with Colombia, Panama, and South Korea;

ØEncourage Entrepreneurship and Growth by building a first class workforce so that the United States can lead the way in technological innovation;

ØMaximize Domestic Energy Options by encouraging all forms of energy production;

ØPay Down America’s Debt Burden and Start Living Within our Means by enacting significant government spending cuts.

Read ABC News report, “$200K Per Job? Timothy Geithner Says White House Jobs Plan Is Still a Bargain” here.

Obama Jobs Bill Takes Aim at Charities

President Obama’s proposed $447-billion jobs bill would be financed mainly by limiting the percentage of income certain donors could write off, including tax breaks for charitable contributions.

The President has suggested limiting write-offs for itemized deductions to 28 percent. The nation’s most affluent people are currently allowed to write off 35 cents of every $1 they spend on charitable giving.

The President has proposed changes to the charitable deduction several times since taking office and has faced stiff opposition from charity and nonprofit groups. They say that limiting the value of the tax provision would cause those people best able to give to reduce their giving.

“Our area is in the midst of recovery from a genuine disaster and during these trying times a range of houses of worship and other charities stepped-up big time to help our families, neighbors and businesses,” said Rodney.  “Unless you actually want the government to be the only source of assistance for our communities in the future, then it makes no sense to starve non-profit groups of the funds they need to do their jobs.  At the end of the day, the President’s new tax will hurt those who need the help the most.  It takes us backward!”

In a recent letter to Congressional leaders, the United Way, the largest non-government funder of human service in the nation, wrote, “We have front-line knowledge that a reduction in deductibility of donations will result in reduced donations to charity…at the worst possible moment.  The bottom-line is that, as a result of the charitable deduction cap, hundreds of thousands of Americans who need our help the most may no longer receive the services we provide…”

Discouraging Homeownership

President Obama has also taken aim at another valuable tax break – the mortgage interest deduction.  Any changes to the mortgage interest deduction now or in the future could threaten recent progress toward stabilizing the housing market, critically erode home prices and values, destroy middle-class wealth accumulation and hurt economic growth.

“Many economists believe that the mortgage interest deduction is vital to the stability of the American housing market and economy,” Rodney said.  “The Mortgage Interest Deduction fosters home ownership by reducing the costs of owning a home.  There’s no doubt that it makes a real difference to hard-working families.”

Reducing or eliminating the MID is a de facto tax increase on homeowners, who already pay 80 to 90 percent of U.S. federal income tax.  Some experts have said the share could rise to 95 percent if the MID is eliminated.

“In the months ahead, Congress and the Budget ‘Supercommittee’ need to be very careful not to add to an already terrible real estate market,” Rodney said.

Health Premiums Rise After Year #1 of Obamacare Law

This week, the Kaiser Family Foundation released its annual Health Benefits Surevey confirming again that President Obama broke his promise to reduce health care premiums by $2,500. 

The report finds that health care premiums in the workplace have increased 9 percent, or over $1,200 for an average American family, in the year following enactment of some of the earliest provisions of the Obamacare law  – a sharp increase from the 3 percent increase highlighted in last year’s Kaiser report. 

Monthly health insurance premiums will continue to skyrocket if the federal mandates in the law are allowed to be implemented covering every type of “pre-existing condition,” which is why this law must be repealed and replaced with common sense solutions that reduce the cost of health coverage. 

The U.S. Government as Venture Capitalist??

The controversial loan guarantee project apprs to be a classic study of what can go wrong when government bureaucrats play venture capitalist and rush to spend so-called “stimulus” money without transparency or Congressional approval.  Read the Washington Post account here.

Rodney Reaching out to local students

Rodney’s latest stops in his ongoing tour of schools in the 11^th Congressional District included schools in Hopatcong and Sparta this week.  He discussed Congressional efforts to create jobs, America’s tax policy, budget cuts, the state’s gun laws and the future of Governor Chris Christie.

Read about his visit to Sparta Middle School here and his meeting with students at Hopatcong Middle School here.

Disaster Assistance Flows into New Jersey

State and federal officials say more than $116 million in disaster aid has already gone out to about 54,000 residents hit hard by Hurricane Irene and other recent storms.

Most of it has been used to pay for housing and other residential needs. But about $12 million went toward low-interest disaster loans primarily to homeowners and renters, as well as businesses of all sizes and nonprofit organizations throughout the state.

Individuals and families recovering from Hurricane Irene have access to a number of local, state, and federal resources that can help them get back on their feet.

The Federal Emergency Management Agency (FEMA) coordinates the federal resources that became available soon after Irene hit. An official disaster declaration helps survivors and their communities get started on the road to recovery. Grants are provided to eligible applicants to cover basic needs; communities are reimbursed — at a minimum of 75 percent -- for eligible projects that repair or replace disaster-damaged infrastructure.

Where to Get Help

In addition to FEMA, there are state and local resources available.  

New Jersey’s 2-1-1 service is for residents who need help and volunteers who want to donate their time. In addition to 2-1-1, recovery experts offer this list of possible resources for residents affected by Hurricane Irene and the associated flooding.

Clean-up and Debris Concerns:

·        Simple guidelines for debris removal: http://www.fema.gov/photodata/low/51711.jpg

·        Clean-up tips: Clean-up tips can be found at http://www.nj211.org/hurricane2.cfm

·        Mold: Mold in a damaged home can create serious health problems.  http://www.fema.gov/news/newsrelease.fema?id=58123

World Cares Center is acting as the liaison between NJ 211 and groups that have volunteered to provide free flood cleanup services.  Call 2-1-1.

Shelter/Housing Needs:

·        Learn about housing options on NJ 2-1-1 housing-related web pages at http://nj211.org/housing.cfm

·        Learn about other shelter options at http://www.state.nj.us/humanservices/dfd/programs/foodstamps/cwa/

You can also find assistance by calling NJ 2-1-1 for the homeless, homeless veterans and pet friendly motels.

Social Services:

·        NJ HELPS: For complete information on all state social services and online applications visit http://www.njhelps.org.

·        Disaster Mental Health: New Jersey MentalHealthCares’ Disaster Mental Health Helpline (877) 294-HELP (4357). A TTY line is available at (877) 294-4356. Translation services are available as well. http://www.state.nj.us/humanservices/dmhs/disaster/#4

·        Social Services for the Homeless hotline (by county) http://nj211.org/images/Hurricane/CountyHomelessHotlines.pdf

Small Business Administration (SBA) Disaster Assistance: https://disasterloan.sba.gov/

Business:

·        Hurricane Irene Business Recovery Assistance: A special business recovery assistance service can be found at http://www.nj.gov./njbusiness/

Document Replacement:

·        Information for replacing important documents is available from the New Jersey Bureau of Vital Statistics, 609-292-4087 or visit http://www.state.nj.us/health/vital/

Legal Services: www.lsnj.org or call 1-888-LSNJ-LAW (1-888-576-5529).

Fraud Reporting: To report suspected fraud call 1-800-323-8603.

Disaster-Related Scams:

·        NJ Division of Consumer Affairs: http://www.njconsumeraffairs.com/disaster/floodtipsflyer_1.pdf

Verifying the credibility of Charitable Organization: Visit http://www.njconsumeraffairs.gov/ocp/charities.htm  or call 973-504-6215.

Hiring Licensed Home Improvement Contractors:

·        Visit http://www.njconsumeraffairs.gov/brief/improve.pdf  to receive tips from the NJ Division of Consumer Affairs

·        Search by name for licensed contractors and for other licensed professionals at http://www.njconsumeraffairs.gov/list1.htm

Disaster IRS Tax Relief:  Go to www.IRS.gov or see your tax person.

Temporary Suspension of Federal Student Loan Payments:  

·        Contact the Federal Student Aid Ombudsman at 877-557-2575 or 202-377-3800 for assistance. http://www.asa.org/repay/options/disaster/default.aspx

Volunteer Your Services:  Agencies looking for volunteers may register their needs and volunteers willing to assist in relief efforts may search for opportunities at www.VolunteerNewJersey.org. Database maintained by The Association of New Jersey Volunteer Centers and the Governor’s Office of Volunteerism: (609) 633-9629 or (609) 775-5236.

New Operating Hours for Local Disaster Recovery Centers

The FEMA/New Jersey Disaster Recovery Centers (DRCs) in Parsippany, Fairfield, Somerville, Sparta and other locations will close on Sundays.

DRCs will be open Monday through Saturday from 10 a.m. to 6 p.m.  Assistance is available online at any time, or through the FEMA Helpline, 800-621-3262 (FEMA), between 7 a.m. and 10 p.m., ET.  Survivors are encouraged to register for disaster assistance before visiting a DRC.

There are three ways to register – go to www.disasterassistance.gov or m.fema.govor call FEMA toll-free, 800-621-3262 (FEMA).  Those with access or functional needs and who use a TTY, call 800-462-7585; or use 711 or Video Relay Service to call 800-621-3362.  Multilingual operators are available.

The deadline to register is October 31.

Residents can find the DRC closest to them online at http://asd.fema.gov/inter/locator/home.htm