The views expressed by contributors are their own and not the view of The Hill

Congress Must Quickly Pass a Strong Economic Growth Package (Sen. Wayne Allard)

One of the best ways to combat slowing economic growth is to increase the money in the pockets of Americans by decreasing their tax burden. Hardworking taxpayers deserve to keep more of their own money to spend on their own priorities, not Washington’s priorities.

Although our economy is still growing, that growth has certainly slowed. Congress should quickly pass a strong economic growth package to mitigate the risk of downturn in the economy and help prevent a recession.

I am also hopeful that the economic growth package will contain tax cuts significant enough to help American businesses, especially small businesses. Business tax cuts will help employers create jobs, which will fuel stronger economic growth. The Republican tax cuts of 2001 and 2003 demonstrated the importance of small business tax cuts in helping the economy.

We must be cautious, however, in using the economic growth package simply as an excuse for additional government spending. Congress can’t spend the nation into prosperity, and spending will have little immediate impact. Permanently increasing the size of government is not a viable solution to a temporary problem.

Tags Bush tax cuts Business Economic policy Fiscal policy Government Labor Macroeconomics Political debates about the United States federal budget Politics Presidency of Barack Obama Presidency of George W. Bush Public economics Tax cut Taxation

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..

 

Main Area Top ↴

Testing Homepage Widget

 

Main Area Middle ↴
Main Area Bottom ↴

Most Popular

Load more

Video

See all Video