I rise today to offer a word of caution about the proposed PAYGO rules which will hurt this body's ability to keep our economy moving forward. By putting more money into the hands of families and taxpayers, the tax cuts of 2001 and 2003 have helped stimulate our economy, create jobs and cut our Federal deficit in half. The proposed PAYGO rules wrongly identify these types of tax cuts as 'deficit spending' and will all but eliminate our ability to provide additional tax relief to the families and taxpayers we represent. It will also set the framework for repealing the tax cuts that have already been enacted. This amounts to a two-pronged threat to the pocketbooks of the families and taxpayers across Ohio and across America. I wholeheartedly support the earmark reform contained in this rule, and I strongly support the spending restraint at the heart of the PAYGO concept, but I believe these rules will, in effect, take money out of the hands of families and taxpayers, hurting our ability to grow our economy and cut our deficit in a fiscally responsible way.
On the recordJanuary 5, 2007
Source
govinfo.govEditor's note · Context
Addressing concerns about proposed PAYGO rules and their impact on tax cuts and the economy.
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