Congressman Jim Gerlach Radio Address
July 20, 2007

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TRANSCRIPT:

Hello, I'm Congressman Jim Gerlach, and I have the privilege to represent the people of Pennsylvania's Sixth District.

This week, Americans were glued to the ticker as the Dow Jones Industrial Average set another record, surging past the 14,000 point mark. One economist commented that the way the market was going, we could make it to 15,000 points before the year is out.

This isn't the first recent indication we have seen that the U.S. economy is on a roll.

Last week, the government reported that the federal budget deficit would drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004.

We also know that the economy added another 132,000 jobs in June, which makes 8.3 million new jobs since August 2003.

That was the month the Congress passed a second round of middle class Republican tax cuts. This historic tax relief has allowed our economy to thrive, while fending off the dot-com bubble bursting, 9/11, corporate scandals, and two wars.

History has consistently shown that low tax rates for individuals and businesses provide a necessary stimulus to spur growth and revenue, and this month's good news provides further proof of that.

When we allow Americans to keep more of their hard-earned money, we empower them to do what they do best - generate ideas that build businesses and create jobs so we can grow our economy and keep America competitive.

With our economy humming along, the last thing we need right now are massive tax increases, which some of my Democrat colleagues are calling for. It's investors, entrepreneurs, and working families that are hurt most by these punitive measures.  

Thanks to Republican tax relief, a family of four earning $40,000 will receive $2,052 in tax relief while 27 million small business owners will save an average of $4,012. In my state of Pennsylvania, 1.5 million married couples will receive in the tax code's marriage penalty, and nearly 1.2 million parents will get an increased child tax credit.

Well, if the Democrats get their way, say goodbye to those savings and child tax credits and get ready to welcome back the marriage penalty. Leaves one to wonder why hard-working Americans should be punished for doing their part to provide the brightest possible future for their children.

In short, Republicans continue to lead the way on fiscal responsibility by holding the line on spending and rejecting Democrat attempts to raise your taxes. We can't allow the failed tax-and-spend policies of the past to strangle the futures of working families.

I'm Congressman Jim Gerlach. Thanks for listening.