Business & Economy
Braley Statement on President’s Budget PDF Print E-mail
News Releases - Business & Economy
Written by Alexandra Krasov   
Monday, 14 February 2011 15:17
Washington, DC – February 14, 2011 - Today, Congressman Bruce Braley (IA-01) released the following statement in response to the President’s budget for fiscal year 2012:

“Today, the President released a budget that clearly involved some tough decisions – and I’m glad to see he is making an effort to address the very real problem of our outrageous deficit,” said Rep. Braley. “I was pleased to see some of the President’s proposed cuts, and while it’s a good start, I think we can go even further.

“This budget clearly reflects our new national reality – the era of big borrowing and big spending is over. But we can, and must, go even further to reduce our deficit. As I said to the President and Speaker Boehner in a letter last week, we can’t present Americans with false choices over issues as important as our national deficit and debt. We must work together – in the House, with the Senate and with the President – to present a responsible, common-sense budget plan to the American people. Our country’s future depends on it.”

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President's proposed budget is very disappointing, Grassley says PDF Print E-mail
News Releases - Business & Economy
Written by Sen Chuck Grassley   
Monday, 14 February 2011 15:01
Monday, February 14, 2011

Sen. Chuck Grassley of Iowa made the following comment on the President’s proposed budget for Fiscal Year 2012 released today.  Grassley is a senior member of the Budget Committee and the Finance Committee.  He is former chairman and ranking member of the Finance Committee, with jurisdiction over tax policy.

“The President said families have to live within their budgets, but his proposal makes a mockery of that statement.  Over 10 years, the debt balloons from $14 trillion today to more than $26 trillion. On any measure of debt, his budget makes things worse, not better.  Instead of tax reform, there are the same scattershot tax increases used to pay for new spending.  The President isn’t using his bully pulpit to develop a national consensus on any issues that require leadership and the use of political capital.  President Bush stuck his neck out on entitlement reform, and it seems to me this President is avoiding a national debate on entitlement spending.  It’s hard to reconcile the President’s stated goal of getting the economy moving with his preference for tax increases.  Businesses have been crystal clear on tax increases and excessive regulations being the enemies of job creation.  You add all that up, and the President’s budget is very disappointing.”

Braley Works to Help Small Businesses PDF Print E-mail
News Releases - Business & Economy
Written by Alexandra Krasov   
Monday, 14 February 2011 08:41
Calls for repeal of health care law provision that hurts businesses

February 10, 2011

Washington, DC – Today, Congressman Bruce Braley (IA-01) signed on to a bill that would help small businesses across the country by repealing a burdensome provision of the health care law, which was added by the Senate. The Small Business Paperwork Mandate Elimination Act will repeal the unpopular “1099” provision.

As a result of the so-called “1099” provision in the health care law, starting in 2012 small businesses will be required to submit 1099 forms for vendors that provide basic day-to-day operations, including office supplies, phones, shipping and other minor expenses. The Small Business Paperwork Mandate Elimination Act, sponsored by Rep. Dan Lungren (R-CA), will repeal this provision to make sure small businesses can focus on creating jobs.

“Small business owners are making touch choices every day, fighting to keep their businesses afloat. This is no time to hit them with new burdensome regulations,” said Rep. Braley. “This provision increases the cost of doing business and puts an unfair burden on business owners when they can least afford it. I know that small businesses are the engine of our economy – they are the job creators in so many communities in Iowa and around the country. And I want to make sure they can stay focused on creating jobs.”

Last year, Rep. Braley supported a similar provision to repeal the “1099” requirement as part of the Small Business Tax Relief Act. The “1099” provision was not included in the House version of the health care bill that Rep. Braley supported last Congress, but was later added into the Senate version of the bill which was then passed and signed into law.

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Earned Income Tax Credit improper payments PDF Print E-mail
News Releases - Business & Economy
Written by Grassley Press   
Monday, 14 February 2011 08:36
Wednesday, February 09, 2011

Sen. Chuck Grassley of Iowa today made the following comment on a report released by the Treasury Inspector General for Tax Administration, "Reduction Targets and Strategies Have Not Been Established to Reduce the Billions of Dollars in Improper Earned Income Tax Credit Payments Each Year."  The report says the IRS continues to report that 23 percent to 28 percent of EITC payments are issued improperly each year. In Fiscal Year 2009, this equated to $11 billion to $13 billion in EITC improper payments.

“This is an outrageously high improper payment rate.  It’s higher than Medicare’s improper payment rate.  The taxpayers can’t sustain a failure rate of one-fourth and on the way to one-third.  For more than eight years, the IRS hasn’t made a dent in this problem.  It’s more than enough time to figure out a way to fix it.  The report says the IRS doesn’t have the resources to go after all of the improper payments in this program. This is a good indication of how the IRS is poorly equipped to handle the huge new responsibilities of health care reform. If the IRS can’t handle its existing responsibilities, it won’t be able to handle its new responsibilities under health care reform.  Maybe if the White House focused more on what’s already owed, it wouldn’t need to propose tax increases, such as the one on employers to pay for unemployment benefits just disclosed this week.”

Braley Calls on President, Speaker to Provide Plan for Lowering Debt. PDF Print E-mail
News Releases - Business & Economy
Written by Alexandra Krasov   
Thursday, 10 February 2011 15:48
Asks President, Speaker for a plan to avoid raising debt ceiling

Washington, DC – Today, Congressman Bruce Braley (IA-01) sent a letter to President Barack Obama and Speaker John Boehner asking them to provide a plan to avoid raising the debt ceiling. Secretary of the Treasury Tim Geithner has stated that the U.S. will reach its debt limit sometime in April or May – and Speaker Boehner has indicated that the House will take a vote on raising the debt limit soon.

“Our national debt is around 14 trillion dollars and growing. That’s unacceptable,” said Braley. “Voters across the country spoke loud and clear last November – they want us to get spending under control. The President and Speaker are giving Congress and the American people a false choice – vote to raise the debt ceiling or vote to shut down the government. I know there’s a better way. We must put forward a common sense, middle-of-the-road plan to bring down our debt and avoid having to make this false choice in April or May. That’s why I hope the President and Speaker Boehner will propose a plan to avoid this scenario.

“I know, and the American people know, that we will have to make tough choices and tough cuts. I look forward to this process and to working with my colleagues on both sides of the aisle to get our spending under control. But I cannot accept a situation where we kick the can further down the road. If we don’t stop borrowing and spending now, when will we?

“In December, I voted against the $850 billion package of Bush tax bonuses for the rich because I know those tax bonuses are such a significant part of our national deficit. Both the President and Speaker Boehner supported them. Now, I want to hear their plan for cutting government spending in a way that doesn’t force us to raise the debt ceiling once again.”.

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