Our nation is facing a serious economic crisis that demands real, commonsense solutions. Most – if not all – members of Congress agree something must be done to stimulate the economy and bring us back to prosperity.
Any legislation designed to revive and renew our economy should help American families and small businesses by preserving and creating more jobs in America. Americans should be able to keep more of their hard-earned money – to save, spend or invest. Legislation based on those principles would put America on a direct road to economic recovery.
To read more about Congressman John Kline's efforts and views on protecting the American taxpayers and ensuring our economic recovery, click on one of the links below:
Using the President’s own analytic model, this stimulus plan generates twice the number of jobs as the Democrat-passed stimulus bill at half the cost.
This legislation, which was the only stimulus bill to receive a bipartisan vote on the House floor, it is stronger because it recognizes the time-honored truth that only private industry – driven to innovate, expand, and invest – can get people back on the payrolls for good. Our plan would give incentives to the small businesses and entrepreneurs who are responsible for America’s productivity. It’s not government that made us the greatest economy on earth, and it’s not government that's going to rescue us from this severe recession.
CONGRESSMAN KLINE'S SOLUTIONS
The American people, not the federal government, should be able to determine how best to spend their hard-earned money. One of Congressman Kline’s top priorities in Congress is pushing for comprehensive reform of our tax system that would put more money back into the pockets of taxpayers.
Keeping taxes low allows families to build a better life for themselves and their children, enables businesses – large and small – to create jobs and compete in the global marketplace, and provides an environment in which innovation can flourish.
Opposing Release of Additional Taxpayer Funds for Bailout
Expressing his disappointment in how the $700 billion bailout has been mismanaged and questioning proposals for spending additional funds, Congressman Kline supported a resolution in January 2009, to block the release of additional taxpayer funds for the Troubled Asset Relief Program (TARP).
Ensuring Accountability and Oversight
In the months since Congress first voted on TARP, Congressman Kline has taken numerous steps to ensure accountability and oversight remain a priority during our economic recovery. In addition to opposing the release of additional taxpayer funds for the TARP bailout, Congressman Kline:
Congressman Kline is continuing his efforts to enforce corporate accountability standards, hold Wall Street executives responsible for illegal actions, and increase transparency of Fannie Mae and Freddie Mac to ensure ill-gotten Wall Street profits are not made at the expense of the American taxpayer.
Exercising Fiscal Restraint
Congressman Kline co-sponsored legislation (H.R. 156) that would freeze Congressional salaries by halting the scheduled cost-of-living pay increase for 2010.
Supporting Tax Reform Legislation
In an effort to enable Americans to decide for themselves where their hard-earned money should go, Congressman Kline co-sponsored tax reform legislation (H.R. 143) that would use the remaining $350 billion in bailout funds to provide a federal two-month tax holiday.
Implementing Common-sense, Free Market Solutions
Congressman Kline co-sponsored the “Economic Recovery and Middle-Class Tax Relief Act,” (H.R. 470), which would provide broad, growth-oriented, permanent incentives for economic activity across all sectors and industries, with immediate application and sustained, long-term implications. The bill would provide a 5 percent across the board income tax cut; permanently repeal required distributions on retirement accounts; make all withdrawals from IRAs tax- and penalty-free during 2009; allow all businesses to immediately and fully deduct on their tax returns the costs of assets (including buildings) they purchase for their business in the year they buy such assets; reduce the top corporate tax rate from 35 to 25 percent; end the capital gains tax on inflation; and simplify the capital gains tax structure.
Extending Adoption Tax Relief
Congressman Kline co-sponsored the Adoption Tax Relief Guarantee Act of 2009, which makes permanent the adoption tax credit and adoption assistance programs enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001.
By John Kline
As Speaker Pelosi convened the 111th Congress earlier this year, she did so against the backdrop of an ailing economy – with very real consequences for Americans. Workers across the country are struggling to make ends meet, and families are learning how to do more with less. It is clear that our nation is facing challenging and uncertain economic times. And it is apparent that no single solution will reverse the course of our financial woes. But we shouldn’t let that stop us from doing what we can to get America’s economy back on track.
Among the first legislative items Congress considered this year was a broad economic stimulus package. While any such legislation will undoubtedly contain many items that appeal to some members – and some items that appeal to many members – no amount of economic stimulus will solve our economy’s ills unless we also address the reckless spending problem that is pervasive in Washington.
Over the years, the congressional earmarking process has evolved into a corrupt and broken system with no regard for merit. Both political parties share the blame for this wasteful practice that has eroded public confidence in our ability to marshal the nation’s financial resources.
I continue to hear outrage and disappointment from Minnesotans about the way their hard-earned tax dollars are spent. When times are tough, it is difficult to justify directing millions of dollars to such “priorities” as $2.4 million for a retractable shade canopy at a park in West Virginia or $300,000 to market specialty potatoes to high end restaurants, when they could instead be applied to real needs within the community – such as the roads and bridges we travel every day, the schools that educate our children, and resources for the men and women who keep our towns and neighborhoods safe.
In fiscal year 2008, Congress spent more than $17.2 billion on more than 11,610 earmarked projects. This out-of-control spending is particularly egregious as states across the nation are forced to make difficult decisions to keep their budgets balanced. Right here in Minnesota, Governor Pawlenty has made the tough call to trim $271.4 million in state expenditures to balance the state’s budget for the current fiscal year.
American families, similarly, have no choice but to balance their budgets. In the real world, those who spend more than they earn face real consequences – from blemished credit records to foreclosed homes to repossessed cars. In Washington, however, Congress can continue to write checks long after the account is depleted. This irresponsible behavior must end.
As my first act of the 111th Congress, I asked House Speaker Nancy Pelosi and Republican Leader John Boehner to put an end to the wasteful earmarking process. Our constituents demand increased transparency and deserve the assurance that federal spending decisions are based on merit.
Our efforts to end wasteful spending must also extend to consideration of any economic stimulus legislation. When we begin debate on a stimulus package, Congress has a responsibility to ensure any and all federal expenditures help – rather than harm – our constituents and contribute to the long-term stability of the national economy. We must ensure this legislation is a vehicle for carefully considered spending that will yield results – rather than an excuse to throw money at projects that meet the criteria of certain interest groups. We must weigh whether proposals would indeed stimulate economic growth – or simply add to our national debt.
As Congress moves forward, we will need to work alongside the President and his Administration. I am encouraged that President Obama campaigned on an anti-earmark platform, promising to reduce congressional earmarking to 1994 levels – from $17.2 billion to $7.8 billion.
I urge him to honor his commitment by retaining and enforcing the 2008 Executive Order entitled “Protecting American Taxpayers from Government Spending on Wasteful Earmarks.” This would be a promising demonstration of his intent to be a partner in the pursuit of a more equitable system of federal spending – that warrants the trust of the American taxpayer.
Minnesotans deserve to know their Representatives are carefully monitoring how their tax dollars are being spent. I encourage my colleagues to work together to achieve the outcomes that are in the best interest of our constituents – and all Americans.
