In the past two years, the debt ceiling has been raised four times.  This week, Congress debated raising the debt ceiling by $1.8 trillion.  Congress continues spend, spend, and spend - ultimately passing our debts onto our grandchildren.  I’m pleased that my colleague Congressman Steve Scalise introduced H.R. 4262, the Control America’s Purse-strings to Deliver a Better Tomorrow (CAP the DEBT) Act to put a lid on this irresponsible spending.

Instead of setting spending records, Congress should be considering job creation alternatives. Here are some ideas that we have presented to Speaker Pelosi for consideration:

-- Provide a 5% across the board income tax cut
-- Increase the Child Tax Credit from $1,000 to $5,000
-- Make the lower 15% rate on Capital Gains and Dividends permanent – this will make our rate competitive with European nations
-- Repeal the Alternative Minimum Tax on individuals
-- Make all withdrawals from IRAs Tax-and Penalty-Free
-- Permanently repeal required distributions on retirement accounts
-- Increase by 50% the tax deduction on student loans and the tax deduction on qualified higher education expenses
-- Allow small business to take a tax deduction equal to 20% of their income
-- Make unemployment benefits tax free so that those individuals between jobs can focus on providing for their families
-- To encourage responsible buyers to enter the housing market and stabilize prices, offer a home-buyers credit of $7,500.

I call on my colleagues to work across the aisle to deliver to the American people at least a few of these ideas that will get America’s economy rolling once again.