Thompson calls for a Timely and Targeted Stimulus Package; Urges Senate to Reject House Passed Measure
Washington, DC – With an ailing economy and unemployment on the rise, U.S. Representative Glenn ‘GT’ Thompson, R-Howard, today reiterated the urgent need for Congress to pass legislation that will stimulate the economy and provide meaningful tax relief to middle class families and small business owners, invests in our nation’s infrastructure, and provide assistance for the unemployed.
“Our economy is struggling and America is looking to Washington for leadership,” said Thompson, a Member of the Small Business Committee. “Congress must act responsibly by crafting legislation that is timely and targeted – not simply throw more money at the problem, as the Federal Government did with the Wall Street bail out, and again today, that will have little effect on getting this economy back on track.”
The American Economic Recovery and Reinvestment Act, which passed the House largely along party lines – 246-183 – has a price tag of $789 billion and measures 1,071 pages in length. Thompson voted against this package, which on average, will put $8.00 a week back into the pockets of taxpayers and increases the national debt to a staggering $12.1 trillion.
“Having spent 28 years as a healthcare professional, the first thing I learned was, do no harm. Yet, this massive spending measure, disguised as a stimulus package, will provide little aid to small business owners who serve as the economic engine of our economy and leave further generations with only more debt.”
Thompson supported an alternative economic recovery plan that would create 6.2 million new American jobs over the next two years (according to a methodology used by President Obama’s economic advisors) and will only cost half as much as the package adopted today. This measure focused on immediate tax relief for working families, stabilizing home values, and providing assistance for the unemployed and small business owners.
According to the non-partisan Congressional Budget Office, only 11 percent of the total spending in the stimulus package passed today will occur this year with over 50 percent occurring after October 2011. In yet another example of big government verses smart government solutions, this measure also permanently expands 73 federal government programs.
Note: Congressman Thompson has received over 3,000 emails, phone calls and letters from his constituents voicing their strong opposition to this measure and urging him to vote down this measure.