House Proceeding 01-28-09 on Jan 28th, 2009 :: 3:46:05 to 3:49:30
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3:46:01 to 3:46:22( Edit History Discussion )

Dave Camp: but let's not fool ourselves today. by voting for an a.m.t. fig leaf and even steeper rate cuts which will leave the middle income worker holding the bag. i urge opposition to the republican amendment and i yield back the balance of my time. the chair: the gentleman yields back the balance of his time. the gentleman from michigan. mr. camp: i yield myself the balance of my time.

3:46:05 to 3:49:30( Edit History Discussion )
Speech By: Dave Camp

3:46:23 to 3:46:44( Edit History Discussion )

Dave Camp: the chair: the gentleman from michigan is recognized for the balance of his time. three minutes. mr. camp: i thank the chairman and i would commend mr. neal for his work on the a.m.t. i just wish you had included it in your underlying bill. but let me just say, look, c.b.o., the congressional budget office, it's nonpartisan, has said that and

3:46:45 to 3:47:05( Edit History Discussion )

Dave Camp: economists alike have said that tax cuts impact the economy more quickly than government spending. and what we need to do is act quickly, act effectively and we even have an analysis by the senior advisor to the new president who says that tax cuts will actually have more immediate growth, more job creation, bigger bang for the

3:47:06 to 3:47:27( Edit History Discussion )

Dave Camp: government spending. and when we aye use the same methods -- and when we use the same methods and economic models, we get twice as many jobs for half the cost. because of the great generative power of tax relief. it's something that certainly both presidents kennedy and

3:47:28 to 3:47:48( Edit History Discussion )

Dave Camp: president reagan recognized to create economic growth. let's be clear about what tax relief actually does. the u.s. economy had significant tax -- had significant job growth after the tax cuts in the early part of this decade and between 2003 and 2008 the economy added almost eight million jobs as

3:47:49 to 3:48:10( Edit History Discussion )

Dave Camp: this chart shows. that's according to the department of labor, bureau of labor statistics. the u.s. economy added these jobs even after dealing with the impact of 9/11, rising energy prices and government spending. everyone knows that over the last year the u.s. economy has lost a significant number of jobs, but took an unpreced

3:48:11 to 3:48:31( Edit History Discussion )

Dave Camp: crisis in the housing and financial markets a a world economic slowdown to really knock the economy and the jobs that the economy creates off its feet. so our estimate -- so i estimated the number of jobs that could be created by these tax relief measures as we readily acknowledge cannot fully account for all pot tension impacts on the economy, but just as the president's

3:48:32 to 3:48:52( Edit History Discussion )

Dave Camp: senior advisors note in their analysis of the same thing, but we do know the u.s. economy was in recession when congress enacted the 2001 and 2003 tax relief measures. the u.s. economy responded by growing rapidly and adding almost eight million jobs and the families and the prosperity that was created from those

3:48:53 to 3:49:13( Edit History Discussion )

Dave Camp: eight million jobs followed. so the tax relief, the approach emphasize more tax relief minimized the wasteful government spending that we see in the democratic approach, we'vseen it's a proven farm la for stimulating the economy, creating jobs and

3:49:14 to 3:49:31( Edit History Discussion )

Dave Camp: lifting this economy out of a recession. and i yield back the balance of my time. the chair: the gentleman yields back the balance of his time. all time is expired. the qution is on the amendment offered by the gentave it.