Tough times demand tough choices

Last week in his State of the Union address, President Barack Obama provided a straightforward, sobering reminder of the challenges we face as a nation. When the president took office he inherited the worst economic crisis since the Great Depression, two wars, and a nation desperate for a leader to rekindle the American dream. I am pleased that the president rolled up his sleeves and provided a number of specific policy proposals to create jobs, continue rebuilding our economy and keep American families safe from the threat of terrorism. This economic downturn has lasted longer than anyone would like, but a recession of this depth requires targeted policy solutions and an enduring commitment to a full recovery. The president delivered on both.

Those who support the president and our nation have an obligation to contribute to meaningful solutions to move our country forward. The Ways and Means Committee has been at the forefront of our economic recovery efforts, helping to provide tax relief to working families and businesses, incentives to develop and use renewable energy, and innovative bond programs for state and local governments to create jobs and improve the quality of life in our cities and towns.

My colleagues and I remain committed to job creation and economic recovery that will strengthen opportunities for working families. We share President Obama’s belief that our recovery efforts must focus on small businesses and middle-class families, which form the backbone of our economy. The president recently outlined a tax credit for small businesses to hire new workers. I share his focus and goal, and look forward to examining the details of the proposal and working to put forward the best legislation possible to create new jobs.

While we continue working toward solutions to help rebuild our economy, we cannot — and will not —abandon our efforts to reform our financial system to prevent a repeat of this crisis. There is no question that the administration and Congress provided unprecedented amounts of aid to financial institutions.  This was necessary to prevent a total collapse of our financial marketplace. We must ensure that these companies are held accountable for the aid they received, and the American people are made whole for the help they provided.

Too many families have experienced job loss or live in fear of losing a living wage and falling further behind the rising cost of living. While our job creation policies will tackle that problem on the front end, we will also work with President Obama to reduce the burden of education and healthcare costs on working families. For too long, these costs have kept our children from realizing their true potential and leading healthy, happy and productive lives. If we are to recharge our economy and reassert our leadership in the global marketplace, we must focus our efforts on creating a healthy, well-educated workforce.

The skyrocketing cost of healthcare has been a driving force behind a staggering number of bankruptcies and personal stories of pain and suffering. For months now, Congress has been engaged in efforts to reform our health insurance system. Our work continues and I am confident that, with President Obama’s leadership, we can succeed, putting the power back in the hands of the patients, and ensuring that every American has access to affordable care that meets their needs. Immediate investments in healthcare will help ensure our workers and businesses remain competitive internationally, and will reap benefits for generations to come.

In addition to investing in the health of our workforce, we must also invest in the long-term health of our economy. We must improve our infrastructure to make it easier for goods to reach their destination. I support the president’s commitment to invest in high-speed rail and other transportation initiatives and look forward to working with my colleagues to move these projects forward. In doing so, we must find ways to promote the development and use of new, energy-efficient technology so that our future economy will not be dependent on resources of the past. By greening our economy and our infrastructure, we will create a new generation of jobs and technologies that will give a tremendous boost to our economy and working families, helping American businesses compete and win internationally. Our global economy demands global solutions and I applaud President Obama’s commitment to expand export opportunities for America’s manufacturers.

Tough times demand tough choices and I hope Republicans will see fit not to just say “no,” but to work with us in a bipartisan way to achieve progress on these fronts. I truly believe the American people expect, and rightly deserve, no less.

Rangel is the chairman of the House Ways and Means Committee.