I believe we can better stimulate the economy through tax relief, which is why I introduced the Economic Growth Through Tax Stimulus Act. This legislation will make the 2001 and 2003 tax relief permanent, reduce marginal individual income tax rates by 5 percentage points for the next five years and reduce the top business and individual income tax rate to 25 percent for the next 5 years. This type of stimulus policy will translate into half a million more jobs in 2009, add an additional $130 billion in GDP and increase the economic growth rate.

Bailouts reward unsuccessful companies; reducing taxes helps successful employers, both small and large, retain more capital so they can be more productive, hire more workers and improve wages. Across-the-board tax relief means the government is not picking winners and losers. As a former business owner, I know that reducing business taxes will lead to job growth and reduce the annual tax burden on every household.

The American taxpayers deserve a better plan from the federal government than more spending on top of a deficit already projected to be more than $1 trillion this year. Congress must focus on solutions that empower individuals and businesses to succeed in the economy rather than solutions that make them more dependent on the federal government. We owe it to them to stop writing blank checks, borrowing and spending without limits and mortgaging their children’s future.