One of my top priorities continues to be restoring our nation’s economy and expanding job opportunities. To accomplish this goal it is important that government adopt policies that encourage private sector and business employment. Providing tax incentives to create jobs expand and improve businesses are sound steps that government can take that will put people back to work.
As the Republican Leader of the House Transportation Committee, I have attempted to direct government stimulus funds to shovel-ready infrastructure projects. Unfortunately, during consideration of the $787 billion Federal stimulus package, a proposal before the House to double the infrastructure projects and reduce the overall spending failed to gain enough votes for adoption. In fact, less than seven percent of the stimulus bill funds were devoted to road and infrastructure projects, which is major reason why that bill did not have my support.
To date the Obama administration is having difficulty getting funding to those limited infrastructure projects because of Federal red tape and bureaucracy.
Tax Reform
I support efforts to spur business activity and keep more jobs here at home by reducing the corporate income tax. The United States has one of the highest corporate income tax rates, especially when compared to many of our primary economic competitors, such as Britain, France and Germany. Higher taxes on the returns to corporate capital inhibit the competitiveness of U.S.-based companies in foreign markets. With such a high tax burden to bear, many corporations are unfortunately attempting to cut costs by relocating abroad and taking good-paying jobs with them. Instead of punishing businesses for attempting to make a profit, I believe we need to reduce their incentive to sacrifice American jobs by lowering corporate income taxes.
Lawsuit Reform
The number of frivolous lawsuits has escalated dramatically in the last few years. Unfortunately, trial lawyers have largely succeeded in driving up the costs of various goods and services - and at the same time lining their own pockets - by forcing companies to defend themselves against any and all bogus claims. Unfortunately, this disturbing trend has extended towards many facets of businesses, including the fast-food industry.
I voted to prevent the skyrocketing costs associated with health care and due to a mass of lawsuits led by trial lawyers and aimed at doctors, nurses and medical providers. I have supported past legislation that would lower costs by limiting the availability of punitive non-economic damages to $250,000 and setting a statute of limitations of three years from the date of injury or one year after the claimant discovers or should have discovered the injury. While I am pleased that a similar measure was passed by the Florida legislature, I will continue to press for national legislation to address this growing crisis.
Additionally, I have supported efforts to curb abuses of our legal system by voting for the Class Action Fairness Act. This measure, which is now under consideration in the Senate, would remove many of these cases from local county courts, where this type of abuse is most pervasive, and place them in the federal court system.
