Economy
While pranks are common on such a day, it was no joke when on April 1st the United States’ 35 percent corporate tax rate became the highest in the world. Our current system is a relic of the Post-War era, when the U.S. reigned as the unchallenged industrial leader, and government efficiently regulated the market. Now the marketplace is global and capital has become increasingly mobile. It is time our tax code modernizes as well.
America’s looming debt crisis is the most predictable – and avoidable – economic calamity in our nation’s history. Make no mistake: empty promises from both political parties have gotten us where we are today. This explosion of debt is threatening to cripple our nation and rob our children and grandchildren of their future.
Washington, DC – Congressman Adrian Smith (R-NE) today issued the following statement after voting for passage of H.Con.Res. 112, the Budget Resolution introduced by Budget Committee Chairman Paul Ryan (R-WI):
The American Recovery and Reinvestment Act, better known as the “stimulus,” turned three years old on Friday. When properly accounted, the price tag for this historic spending law is more than $1.1 trillion. To put this figure in perspective, the stimulus is more than twice the size of the New Deal and more than the entire value of Australia’s economy.
Washington, DC – Congressman Adrian Smith (R-NE) released the following statement after the White House released its budget blueprint for Fiscal Year 2013:
“With this budget proposal, the President has regrettably decided he is not going to be a part of the solution to our nation’s debt crisis,” said Smith. “President Obama’s budget would continue fueling uncertainty for job creators by imposing a $1.9 trillion tax hike while adding $11 trillion to the national debt.
As a former chairman of the House Budget Committee once said, “If you can’t budget, you can’t govern.” Budgeting is one of the most basic things people do. Families and businesses in Nebraska budget every day, figuring out what their needs are and how they are to be met.
When talking to residents in the Third District, issues of access are often discussed: access to health care, veteran services, and, certainly, transportation. One important initiative which facilitates transportation access is the Essential Air Service (EAS). This program provides airline service to smaller, rural areas and ensures access to the national transportation system. Most importantly, EAS provides businesses throughout Nebraska access to dependable air service, a necessary component of economic opportunity and rural job creation.
Washington, DC – Congressman Adrian Smith (R-NE) today released the following statement after voting in favor of the Fiscal Responsibility and Retirement Security Act (H.R. 1173) which repeals the Community Living Assistance Services and Supports (CLASS) Act: