It continues to be a busy time in Washington. As the House and Senate continue to pursue health care reform there are still many unanswered questions but we do know that small businesses will be particularly impacted by the various proposals.
The newest numbers on the federal deficit have come out and the prognosis is not good to say the least. And finally our Commander in Chief has an important decision to make with respect to military strategy in Afghanistan.
The health care reform plans supported by members of the Majority in Congress contain provisions that will hurt small businesses. The last thing we need to do as we rebuild our struggling national economy is hurt the economic engine that creates 8 out of 10 new jobs. Small businesses represent more than 99 percent of all businesses in the country and have historically employed half of the U.S. workforce and compose half of the total U.S. economy.
The Majoritys reform proposals would do the following:
Enact a $544 billion surtax on the so-called rich" to help pay for their government takeover of health care. According to data from the IRS more than half of those targeted under the health care surtax" are small business owners.
Impose roughly $208 billion in new taxes on businesses that cannot afford to pay for their employees health care.
The result of these new taxes on small businesses is estimated to cause a loss of 5.5 million jobs. Since the current recession began almost two years ago more than 7 million jobs have been lost. The Department of Labor reports that 263000 people lost their jobs in September alone. New taxes on small businesses will only delay much needed economic recovery and this is one of many reasons that I cannot support this kind of reform."
On a fiscal note the federal budget deficit for 2009 now stands at $1.42 trillion more than three times the most red ink ever amassed in a single year. That is more than the total national debt for the first 200 years of our nations existence more than the entire economy of India almost as much as Canadas and more than $4700 for every man woman and child in the United States.
Treasury Department figures released last week demonstrated that the federal government spent $46.6 billion more in September than it took in a month that normally records a surplus. That boosted the shortfall for the full fiscal year ending Sept. 30 to $1.42 trillion. The previous years deficit was $459 billion.
The Congressional Budget Office projects that the nations debt held by investors both at home and abroad will increase by $9.1 trillion over the next decade under Obamas spending plans. We simply cannot afford the expensive policy proposals coming out of the White House and Congress and I will do all that I can to rein in spending and bring us back to a path of fiscal responsibility.
Lastly as the intensity in the War in Afghanistan heats up; I feel that the President is making a critical mistake by delaying to take action on increased troop levels and next steps. It was troubling for me to hear White House advisers caution that the President may not make a decision on providing the additional troops requested by General McChrystal until after the Afghanistan election dispute has been resolved.
This is a critical mistake. Time is of the essence and any further delay only results in damage to troop morale and more importantly endangers the troops. General McChrystal himself wrote in August Failure to gain the initiative and reverse insurgent momentum in the near-term (next 12 months) -- while Afghan security capacity matures -- risks an outcome where defeating the insurgency is no longer possible." In the meantime nearly 2 months have already passed without action and further delays only increase the risks for our troops.
The President seemed to understand the importance of this war before and should follow his own advice now. Indecisiveness is emboldening al-Qaeda and the Taliban making the task of the American troops already there that much harder. In a very clear statement General McChrystal wrote: Resources will not win this war but under-resourcing could lose it."
We have a solemn duty to provide the support necessary for our military to succeed at the job they have been given in Afghanistan.
This is no time for political considerations but a critical moment for our nations security. Republicans on Capitol Hill have maintained our steadfast support to the President with respect to winning the War in Afghanistan. The time to act is now.
It continues to be a busy time in Washington. As the House and Senate continue to pursue health care reform there are still many unanswered questions but we do know that small businesses will be particularly impacted by the various proposals.
The newest numbers on the federal deficit have come out and the prognosis is not good to say the least. And finally our Commander in Chief has an important decision to make with respect to military strategy in Afghanistan.
The health care reform plans supported by members of the Majority in Congress contain provisions that will hurt small businesses. The last thing we need to do as we rebuild our struggling national economy is hurt the economic engine that creates 8 out of 10 new jobs. Small businesses represent more than 99 percent of all businesses in the country and have historically employed half of the U.S. workforce and compose half of the total U.S. economy.
The Majoritys reform proposals would do the following:
Enact a $544 billion surtax on the so-called rich" to help pay for their government takeover of health care. According to data from the IRS more than half of those targeted under the health care surtax" are small business owners.
Impose roughly $208 billion in new taxes on businesses that cannot afford to pay for their employees health care.
The result of these new taxes on small businesses is estimated to cause a loss of 5.5 million jobs. Since the current recession began almost two years ago more than 7 million jobs have been lost. The Department of Labor reports that 263000 people lost their jobs in September alone. New taxes on small businesses will only delay much needed economic recovery and this is one of many reasons that I cannot support this kind of reform."
On a fiscal note the federal budget deficit for 2009 now stands at $1.42 trillion more than three times the most red ink ever amassed in a single year. That is more than the total national debt for the first 200 years of our nations existence more than the entire economy of India almost as much as Canadas and more than $4700 for every man woman and child in the United States.
Treasury Department figures released last week demonstrated that the federal government spent $46.6 billion more in September than it took in a month that normally records a surplus. That boosted the shortfall for the full fiscal year ending Sept. 30 to $1.42 trillion. The previous years deficit was $459 billion.
The Congressional Budget Office projects that the nations debt held by investors both at home and abroad will increase by $9.1 trillion over the next decade under Obamas spending plans. We simply cannot afford the expensive policy proposals coming out of the White House and Congress and I will do all that I can to rein in spending and bring us back to a path of fiscal responsibility.
Lastly as the intensity in the War in Afghanistan heats up; I feel that the President is making a critical mistake by delaying to take action on increased troop levels and next steps. It was troubling for me to hear White House advisers caution that the President may not make a decision on providing the additional troops requested by General McChrystal until after the Afghanistan election dispute has been resolved.
This is a critical mistake. Time is of the essence and any further delay only results in damage to troop morale and more importantly endangers the troops. General McChrystal himself wrote in August Failure to gain the initiative and reverse insurgent momentum in the near-term (next 12 months) -- while Afghan security capacity matures -- risks an outcome where defeating the insurgency is no longer possible." In the meantime nearly 2 months have already passed without action and further delays only increase the risks for our troops.
The President seemed to understand the importance of this war before and should follow his own advice now. Indecisiveness is emboldening al-Qaeda and the Taliban making the task of the American troops already there that much harder. In a very clear statement General McChrystal wrote: Resources will not win this war but under-resourcing could lose it."
We have a solemn duty to provide the support necessary for our military to succeed at the job they have been given in Afghanistan.
This is no time for political considerations but a critical moment for our nations security. Republicans on Capitol Hill have maintained our steadfast support to the President with respect to winning the War in Afghanistan. The time to act is now.
