The Bachman Bulletin

[Thor]

 

Bachmann Votes Against Trillion-Dollar Plus "Stimulus" Package:

The House of Representatives passed a so-called stimulus package last week that, when the more than $300 billion in interest payments are added in will cost the American taxpayers over $1.1 trillion.  I could not support this package, which I felt included far too little actual stimulus, included far too much plain old political pork, and added way too much debt to the already over-burdened American taxpayer, as well as generations of taxpayers to come.

The idea of investing in shovel-ready transportation and infrastructure projects to stimulate the economy is one worthy of Congress’ support.  It would quickly inject money into the economy by getting construction and related job sectors working – while also taking care of important infrastructure projects that have been on the nation’s “to do list” for some time.  Unfortunately, the package passed by the House last week, included such funding almost as an afterthought.  It was overshadowed by hundreds of billions of dollars for brand-new programs, the National Endowment for the Arts, federal government office buildings, and more.

I supported an alternative package that really would stimulate the economy by putting more money in the hands of small businesses and families that can really use it to create jobs, purchase goods, and more.  Amongst other things, the Republican Economic Recovery Plan would:
 
• Reduce the lowest individual tax rates from 15% to 10% and from 10% to 5%, helping more than 500,000 filers in Minnesota’s Sixth District alone.

• Allow small businesses to take a tax deduction equal to 20% of their income.

• Provide a home-buyers credit of $7500 for those who can make a minimum down-payment of 5%.

I also supported a motion to recommit, or to send the Democrat package back to committee to make the following changes:
 
• Increase investment in shovel-ready transportation and infrastructure projects by $60.25 billion.

• Eliminate $135.8 billion in funding for 32 new discretionary programs created by the bill.

• Eliminate Fiscal Year 2010 funding for 17 existing federal programs – funding that jumps the gun on a budgeting process that hasn’t even begun yet.

• Reduce funding for the National Endowment for the Arts, Americorps, GSA federal office buildings, and NOAA Habitat Restoration.

Last week, I also published a column in the Star Tribune that sought to put the massive $825-billion stimulus package in some historical context.  In case you missed it, you can read it here:


Michele Bachmann: The perils of spending like it's 1929:

By Michele Bachmann
Star Tribune
January 29, 2009
 
It's been almost one year and $1.5 trillion since the government began its historic slate of financial bailouts -- and all we have to show for it is red ink dripping from our nation's balance sheet.

Congress has been busy writing checks to everyone from Detroit automakers to Wall Street day traders. We're now nearing a historic $11 trillion debt. Each time Congress goes to the taxpayer ATM, it claims that this will be the bailout that gets the economy moving again.

For instance, on the night the Senate passed the $700 billion Wall Street bailout, the Senate's finance chairman, Max Baucus, confidently declared: "I'm very proud of what we did. This is going to mark the time when we've turned the corner. And we will begin to see this financial crisis beginning to abate."

But things got only worse. And despite the serious risks to our long-term stability, this failed strategy of big-government stimulus continues in full force. This week, in fact, President Obama and the Democratic Congress asked for another near-trillion in federal deficit spending.

Their plan promises an agenda styled after the economic policies of the Great Depression -- government jobs programs, enormous infrastructure spending, huge amounts of pork and a slew of government handouts. But before we return to the 1930s, we may want to review a little history.

The stock market collapse of 1929 brought a crashing halt to the Roaring Twenties. But President Herbert Hoover's response to the economic crisis ensured that it became a genuine catastrophe. Contrary to popular perception, Hoover did not respond to the downturn with inaction or indifference -- rather, he pursued a series of misguided big-government adventures that lengthened and deepened our economic woes.

Hoover not only dramatically hiked income and import taxes, but he instituted big-government spending programs all but identical to those being debated today. Hoover's Reconstruction Finance Corporation tried to ease economic pain by funneling tax money to state governments, local governments, banks and a variety of businesses. His Federal Home Loan Bank Act extended loans in an effort to increase low-income housing -- beginning the ill-fated history of federal intervention in the housing market.

These measures proved a dismal failure, and things got only worse. In the 1932 campaign, Franklin Roosevelt actually attacked Hoover for his big-government policies, decrying Hoover's presidency as "the greatest spending administration in peacetime in all of history."
Yet, once elected, Roosevelt not only maintained Hoover's programs, he used them as a foundation for his titanic New Deal expenditures. He even expanded Hoover's failed housing program and launched the now-infamous mortgage giant Fannie Mae. And even in the face of a staggering 25 percent unemployment, FDR held fast to the big-government philosophy -- jobs programs, handouts, tax hikes -- and, as a result, presided over a decade of economic misery.

FDR's own treasury secretary, Henry Morgenthau, had to admit as much in 1939: "We are spending more than we have ever spent before, and it does not work. ... We have never made good on our promises. I say after eight years of this administration we have just as much unemployment as when we started. And an enormous debt to boot!"

Instead of pursuing the tragic economic policies of Hoover and FDR, we should follow the model of presidents who successfully met the economic challenges of their times and ushered in prosperity. In recent memory, Presidents John F. Kennedy and Ronald Reagan dramatically cut taxes to stimulate growth and create jobs -- and their policies succeeded.

When Jimmy Carter left office, the economy was slumping, unemployment was higher than today and inflation was in the double digits. Reagan's economic policy, which included massive tax cuts, reversed a worsening situation, and the economy surged on every level -- 17 million jobs were created, employee compensation increased, inflation was conquered and the longest peacetime boom in our history was born.

So with two paths ahead -- one that emphasizes tax reform and one that emphasizes big government -- the right path is clear. We either learn from the mistakes of history or we repeat them

Michele Bachmann, R-Minn., is a member of the U.S. House of Representatives.

© 2009 Star Tribune. All rights reserved.

Bachmann Introduces New Tool to Help You Keep Up With Congress:

Last week, I unveiled a new blog that you can use to follow what legislation is considered by the House of Representatives, what alternatives are offered and how these bills and amendments fare. 

The blog, called the The Majority Tracker, sets up a day-by-day listing of key legislation before the House, including a link to how legislators voted, any amendments that Republicans attempted to present but were rejected, and alternative legislation that Republicans would have put forth if they were in control of the House.  I encourage you to use this new blog, as well as my original blog at Townhall.com, to keep informed about what’s happening in Washington that will impact your bottom line.
 
 
Bachmann Office Coming to a Town Near You:

My staff regularly hold Mobile Office Hours at locations all across the district.  These are opportunities for you to come meet one on one with someone from my office who is trained to be your liaison with federal agencies.  Please bring copies of any paperwork that you might have with you when you visit.  Particularly, if you are having a problem with a federal benefit or program and have letters or documents that might help my staff get answers for you quickly.

Should you have any questions or concerns, however, you can always stop by one of my district offices between 9:00 am and 5:00 pm to talk to my staff as well.   

Woodbury                                          Waite Park
6043 Hudson Road                                 110 2nd Street South
Suite 330                                             Suite 232
Woodbury, MN 55125                             Waite Park, MN 56387
651-731-5400                                       320-253-5931

Beginning in February, a new schedule of Mobile Office Hours will take effect.  My staff will still be in many of the same locations, but the days and hours of these sessions may shift.  Please take a moment to check out the new schedule here:
 
Next week, they’ll be at the following locations:
 
Tuesday, February 10th
10:00 am to noon
Washington County Library: Hardwood Creek Branch   
19955 Forest Road N, Forest Lake
 
Tuesday, February 10th
1:00 pm to 3:00 pm
Andover City Hall 
1685 Crosstown Boulevard NW
 
Thursday, February 12th
9:00 am to 10:30 am
Howard Lake City Hall 
625 8th Avenue

Thursday, February 12th
11:30 am to 1:00 pm
Annandale City Hall
30 Cedar Street E

Thursday, February 12th
1:00 pm to 3:00 pm
Clear Lake City Hall
7684 1st Avenue W

Thursday, February 12th
4:00 pm to 5:30 pm
St. Michael City Hall
3150 Lander Avenue NE
 
 

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[Rick]

Intersting, I got this one:

 

Why I voted NO
Eric Cantor

Yesterday, when the roll was called, I voted against the misnamed economic stimulus plan which ultimately passed the House.

The American economy is hurting and that means Americans are hurting. Middle class families are being hit with continuing layoffs and our retirement and college savings are being ravaged by the markets.

We should be acting boldly to preserve, protect and create jobs. We should cut taxes on small businesses and middle class families to help create jobs.

Unfortunately, Nancy Pelosi has crafted a "stimulus" bill which will do little if anything to stimulate the economy. The bill presented to the House is a borrow and spend bill which would drive this yearsÂ’ deficit to over 2 trillion dollars.

It is simply not accurate to describe this bill as an economic stimulus plan. It is however a massive government spending plan.

Here is some of what is currently in the plan:

It creates 32 new federal programs, totaling $136 billion. (37 percent of the total cost)
It expands 60 existing programs, mostly programs favored by the political left.
It spends $6 billion in corporate welfare to help broadband companies get more customers.
It spends $600 million to “prepare our country for universal healthcare”.
It spends $1 billion on Amtrak.
It spends $400 million on climate change research.
It spends $50 million on the National Endowment for the Arts.
It spends $3 billion on a new “prevention and wellness” fund, which includes $335 million for sexually transmitted disease education and prevention.
Every penny is passed on to our children and grandchildren in government debt and will undoubtedly lead to massive tax increases in the future.

This reckless spending is why I voted NO.

Now the bill goes to the Senate and later will come back to the House. As the process continues I will try and advance an alternative bill which I believe would unshackle the American economy and create millions of jobs.

Our plan calls for a smarter simpler stimulus plan with twice the jobs at half the cost. No waste, no delay, just jobs.

A 20% tax cut for small business to create jobs.
Across the board tax cuts for middle class families.
Extend bonus depreciation on small business expenses to encourage investment.
And, to help our neighbors who have been laid off, we want to eliminate income taxes on unemployment benefits.
This plan would stimulate the economy and create millions of new jobs.

I think most Americans know that cutting taxes on small business and middle class families will do more to stimulate the economy and create jobs than Nancy PelosiÂ’s massive borrowing and spending.

I will try and keep you informed as the debate in Washington continues.

Sincerely,

Eric Cantor