Partisan Confrontation Does Not Help America’s Workers

Today the Senate Finance Committee has scheduled what they term as a “partisan” mark-up of legislation completely at odds with the President’s priorities and legislation already passed by the House of Representatives.

The economic impact of this unfortunate decision is plain for every one to see. America’s workers will be forced to wait for any help from Washington and financial markets will be left with uncertainty. The Senate Democrats have waited over a month since the President laid out his economic agenda to reveal their plan, and when they do, it is filled with items they know both his Administration and the House of Representatives strongly oppose. They clearly want confrontation. They have clearly chosen to delay action. The American people are left to wonder “Why?”

“While the economic stimulus bill recently passed by the House of Representatives relies heavily on pro-growth tax cuts to revitalize the struggling economy, this bill merely represents an excessive giveaway of taxpayer dollars,” said Paul Beckner, President of CSE. “Our economy is quickly entering a critical phase and instead of looking for ways to create a true rebound, some Senators are instead focused on how to direct money back to their own parochial interests.”

The American economy needs help. For over a year, the economy has suffered from a decline in investment and risk taking. The tragedy of September 11 created real and serious economic dislocations. A sensible economic “stimulus” package should focus on helping jump start investment and wealth creation. Acceleration of the Bush tax cuts, eliminating the corporate AMT and accelerating depreciation of capital investment provide incentives for growth and wealth creation.

“Partisan bickering over massive public works projects does not address the real economic problems facing the American people,” continued Beckner. “The long-delayed Senate Democrat plan is a deep disappointment both in substance and style. The full Senate should reject this approach and pass the pro-growth legislation the President asked for over a month ago.”