On the recordJuly 29, 2011
It has been said, ``A journey of a thousand miles begins with a small step.'' Today, with a looming national debt of over $14.2 trillion, we need to take dramatic steps to decrease spending, but we can make a difference by taking small steps as well. Throughout our Nation's economic crisis, I've heard from constituents who have said they want to do more to pay off the national debt. I voluntarily give back $700 from every paycheck to help pay down the national debt, and I wanted to make it easier for like-minded citizens to do the same. That's why I've sponsored the Debt Contribution Act, which creates a checkoff box on the tax return for individuals who want to donate money to pay down the national debt. It ensures 100 percent of those proceeds are used to pay down the national debt, and it makes sure that it's still a tax deductible contribution, which it has been since 1964. So with a national debt of over $14.2 trillion, we won't be running a surplus anytime soon, but we can allow patriotic Americans who want to volunteer and give money to pay down the national debt to do that, and I hope my colleagues will help me support and pass the Debt Contribution Act. ____________________
