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American Recovery and Reinvestment Act
American Recovery and Reinvestment Act
H.R. 1 contains $825 billion in new spending and tax provisions which
have been characterized by the Democratic leadership as a concerted effort to
create and save 3 to 4 million jobs, jumpstart the economy, and begin the
process of transforming it for the 21st century. In actuality, this bill is a political
tool geared more toward 2012 than 2009 and will do very little, if anything, to
grow the economy or expand our job base in the short-term. Most of the
discretionary spending in this bill will not be spent until after 2010. In fact, only
8% of the spending will actually take place this year when the country needs
stimulus the most.
On Wednesday, January 28, 2009, the House voted and passed H.R. 1 by
a vote of 244-188. I voted against this legislation for a variety of reasons. Some
of these include:
At a time in our nation when the economy is the first thing on people’s
minds, Congress should focus on legislation that encourages job creation in the
private sector, increasing private investment and encouraging consumer
spending. Stimulus must rely on proven methods to get our economy back on
track such as immediate tax relief – decreasing the capital gains tax, working
families’ income tax, small business tax and tax-free unemployment benefits.
I supported the Republican Motion to Recommit (MTR) H.R. 1 with the tax
relief provisions for working families, aid to small businesses, tax-free
unemployment benefits and stabilizing home values. Unfortunately, H.R. 1, unlike
the MTR, relies heavily on borrowing and spending, increasing our national debt
and the size of the federal government without providing any real relief or
stimulus. The MTR failed to pass the House by a vote of 159-270.
Fast Facts: Details of the Spending in the Stimulus Bill
Goal: Democrats say the bill will create or save 3 million jobs
Fact: Taxpayer cost of bill is $825 billion
• Cost per job: $275,000
• Average US Household Yearly Income: $42,000
Goal: Fund public works projects like building highways, bridges, rail and transit
systems and dams
Fact: Only 13% of the funds go towards such projects
• A mere 3.6% for highway construction