Friday, September 10, 2010

McCarthy: get ready for stiff tax increases unless the Obama plan is stopped

  On this special day, let's hear from our local Congressman, Rep. Kevin McCarthy (R-Bakersfield) on his view of the issues of the day. In his  words:

"September 11th marks a day in America that we will never forget.  The images from that day will always be on our minds as we remember those who lost their lives and the heroic efforts including those from Kern County that responded to those in need.  We must also keep our troops who are serving in harms way in our thoughts as well.

  "Congress will be back in session next week.  My colleagues and I believe that a simple two point plan can be immediately implemented that will help create an environment to create jobs that Americans
need.  Point one: cut spending to 2008 levels and point two: freeze all tax rates for two years.
  "We must immediately cut federal spending.  In the first 19 months of this Administration, the publicly held federal debt has increased by $2.5260 trillion.  This is compounded by the Administration’s proposal
this week for new stimulus spending in the form of $50 billion for infrastructure projects.  Just like in our everyday lives, when we need to control our debt, we need to find savings and cut spending.
Instead, Congress and the Administration should be working together to cut spending.  To date, my colleagues and I have offered over $120 billion in spending cuts through the YouCut program, but all have been voted down in the House.  Freezing all tax rates for two years may be one major initiative that Congress can get done this year.  Right now, if Washington fails to act, on January 1, 2011 taxes will rise by $3.9
trillion, affecting all tax paying Americans.  Specifically, an\ average middle class family in California currently pays about $3,570 in federal income taxes.  If Congress does not act to prevent automatic tax increases, this will increase to $5,196 in 2011.  Small businesses will also be impacted if nothing is done.  One local small
business I visited this week was Kern Steel Fabrication.  Raising taxes on businesses like this will only compound our unemployment problem. What they need now is certainty so companies like Kern Steel Fabrication can plan for the future and so they can become prosperous.

  "T he Federal Financial Crisis Inquiry Commission led by formeCongressman Bill Thomas, the Commission Vice Chairman, got out of Washington and held a hearing in Bakersfield this week.  I wanted the
Commission to see that every part of our community has been harmed bythe economic downturn: housing, agriculture, energy and small businesses.  I hope their findings in Bakersfield will help develop a
final report, that lays out common-sense guidance to create a climate – both in California and in the nation – that will allow small businesses to prosper and access capital to expand and create additional jobs.

  "Also next Friday, September 17, my Bakersfield office will be distributing pocket Constitutions for Constitution day. Please stop by if you would like one. I hope everyone has a wonderful weekend and
enjoy the NFL games that will be on this Sunday!

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