Monday, February 23, 2009

I received this email from Senator John Cornyn, Texas. I knew it was futile contacting him since he was already in the "right" corner but I want to be heard! I submit the letter for your comments.

Thank you for contacting me about efforts to stimulate the economy. I appreciate having the benefit of your comments on this important matter.

As you know, the Congress recently passed—and President Barack Obama signed into law—the American Recovery and Reinvestment Act of 2009 (P.L. 111–5) along partisan lines. I could not support this legislation, which increases the size and scope of the federal government, adds over $1 trillion to the federal deficit, and fails to reduce the tax burden on all working families and small businesses. In fact, this legislation will increase Texans share of the national debt by almost $90 billion and according to the non-partisan Congressional Budget Office, will have a negative impact on economic growth over the next ten years.

Nonetheless, I remain committed to finding real solutions that will have an immediate, positive impact on the economy. During the Senate’s debate of P.L. 111–5, I supported an amendment that would have helped address the struggling housing market. The Fix Housing First Amendment (S.Amdt. 353) would have made 4 to 4.5 percent mortgages available to every creditworthy American in an effort to ease the pressure on family budgets. Millions of Texans would have qualified for this refinancing option—translating into an average $300 reduction in the monthly mortgage payments of middle-class families. Additionally, this amendment would have created a $15,000 homebuyer tax credit for the purchase of any principle residence and would have encouraged lenders to modify privately held mortgages, a provision that would have helped stem the number of foreclosures. Finally, S.Amdt. 353 would have put in place a number of critical tax incentives, aimed at creating jobs and spurring small business investment. Unfortunately, S.Amdt. 353 was not included in the final version of P.L. 111–5.

Furthermore, excessive taxation hinders job creation for small businesses and overburdens taxpayers during difficult economic times. According to the Tax Foundation, taxpayers worked almost four months last year to pay for government operations. This is more than what they worked to pay for food, clothing and housing combined. As such, I offered an amendment to P.L. 111–5 that would have lowered the 10 percent tax bracket to 5 percent. This proposal would have provided tax relief to every Texan who pays the federal income tax. Hard-working Texans deserve to keep more of their own money to spend, save, and invest how they see fit. Although the Senate failed to adopt my amendment, I will continue working to provide broad-based tax relief to all Americans.

Finally, I understand the frustration of American taxpayers regarding Congress' inability to restrain spending—the primary factor contributing to the budget deficit and our national debt. Like you, I am concerned about the long term effects of excessive government spending, often on wasteful, ineffective government programs. In an effort to be a better steward of tax dollars, Congress must eliminate government waste and fraud and restrain runaway spending. Although P.L. 111–5 included some meritorious funding initiatives, I believe that any programmatic funding should be openly debated during the annual appropriations process. While I am not a member of the Senate Appropriations Committee, which has primary jurisdiction over the annual appropriations bills that allocate federal spending, I will continue to work with my colleagues to ensure that all Texans are well served.

I appreciate having the opportunity to represent the interests of Texans in the United States Senate, and as a member of the Senate Finance Committee, you may be certain that I will keep your views in mind should relevant legislation be considered during the 111th Congress. Thank you for taking the time to contact me.

Sincerely,

JOHN CORNYN
United States Senator

7 comments:

Anonymous said...

Yeah, the best idea the republicans could come up with is to try and create another housing bubble.

Gee, it worked so well the first time. No wonder those idiots lost it all and don't control shit.

Schteveo said...

Somebody smack that punk ass liberal!!


Cornyn isn't any more right about banking / finance than BOHICA is. The gub'ment doesn't need to hold millions of re-fi mortgages for us either!! The America economy has survived tragic times before. But never has gub'ment intervention helped. There are more unintended times of help than intended help.

The space race poured millions into the economy and we get huge advances in technology. WWII, Korea and even Nam did like wise. But most of what FDR did was wrong, wrong, wrong.


The MSM is reporting on the country's governors in D.C. this week for their annual meeting. Most took an empty sack with them so they'd be able to take their BOHICA Porkulus BUCKS home when they go.

But I've seen no mention of the cost, federal or by state, of just what a three day conference, tickets to D.C., hotels, food, cars, security etc. for Governors, wives and staff all costs?

Hmmm?

I know the states and feds must spend money, it costs money to make money. But they don't MAKE money, they TAX those who DO so, and then they do conferences.

This is a cash flow problem in a business sense. The problem comes in when the taxers, who know nothing about business, refuse to see this. The taxees have less income, so the taxers get less in taxes. The taxees have no choice but to cut back on un-necessary expenditures. The taxers NEVER see that as an option. What's unnecessary?

Midnight basketball, the titmouse, Council on the Arts, sod for the green way, shall I continue?

Plus, money for greening up federal buildings that gets spent in 2011 isn't any help, VD money is un-necessary as part of economic stimulus.

I applaud the folks who voted against the Porkulus Plan. Too bad there are so few, or so few Governors who don't want the BOHICA BUCKS.

Anonymous said...

Yet another representative that thinks that the only light at the end of this tunnel is via governmental interference.

These artificially low interest rates would be provded by whom?

The banks? Yeah, right, they'll be more than willing to make less than the going market rate just because Uncle Sam asked them to. Then they'll go under, and we'll bail them out, and....

I'm not sure that I can take much more of this. It boggles the mind that none of these folks can realize that doing the same thing that you did to get yourself into the mess isn't going to miraculously get you out. It's like digging deeper to get out of a hole.

nerd said...

Once again, ladies and gentlemen we are treated to more ignorant, idiotic rants and immature insults from someone who apparently never left adolescence.

Anonymous said...

Insanity: doing the same thing over and over again and expecting different results.
Albert Einstein

Stupidity: see above.

Anonymous said...

Hey - at least you got a reply from your Senator. schumer never replies to my letters.

Anonymous said...

Sven, if you want Chuckie to respond, you'll have to get a TV camera and a microphone. Then stand back because he'll run you over!

Sen. Cornyn seems like a well intentioned guy, but he's whistling in the wind, since no one in DC is paying any attention.