Wednesday, March 16, 2011

Update of Conservative Legislation

 Since Republicans have taken back the House, many of have been clamoring to pass legislation that would undo all of the havoc that the 111th congress wreaked upon our nation.  Here are a couple of laudatory pieces of legislation that we should be pressing our representatives to support.  Call your member of congress and Senator and ask them to co-sponsor some of these bills.

- Senator Jim DeMint has introduced S.504-the National Right to Work Act.  This bill would preserve the right to of any individual to abstain from joining a union.

- Congressman Tim Scott introduced H.R. 937- Rising Tides Act- to lower corporate tax rates to 23% and would let companies deduct up to 85 percent of overseas earnings when repatriating it to the United States.

-Congressman Ed Whitfield (R-VA), chairman of the Energy and Power Subcommittee is moving along legislation to block  the EPA from implementing climate regulations.

-Congressman Tom McClintock introduced the Full Faith and Credit Bill-H.R. 421, which would ensure that the Treasury Dep't prioritize interest payments on debt before other spending.  This would preclude any potential default that the left is predicting in the event of a government shutdown.  Pat Toomey introduced a similar bill in the Senate (S. 163)

- Senator James Inhofe and Rep. Steve King introduced (H.R. 997) English Only Bill .

- House Republicans unveil the first flat tax bill of the congress, HR 1040.  This bill would offer everyone the option of opting out of the current tax scheme and electing to pay a flat tax.  The first two years following the choice would result in a 19% flat tax, while declining to 17% during the subsequent years.  The bill would offer corporations the same choice.

-Michelle Bachmann introduced H.R. 87 at the beginning of the legislative session to completely repeal the Dodd-Frank financial services takeover.  Other Republicans have sponsored legislation to tinker with the bill, but stop short of full repeal.  The 850 page monstrosity imposes the most onerous regulations and market distorting mandates on our financial services industry in American history.  In addition, the newly created Consumer Financial Protection Bureau is planning to implement mortgage lending policies that will regurgitate the very initiatives that caused the mortgage crisis.  It's effects on our financial service and housing markets will be commensurate to those of ObamaCare on our health care sector.  FrankenDodd must be repealed lock stock and barrel, not reformed.

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