I wanted to update you on 3 key issues on Capitol Hill.
1) The "fiscal cliff" is approaching and small businesses and families need a resolution that ensures their taxes do not increase in 2013. Unfortunately, the President is proposing (over 10 years) $1.6 trillion in job-killing tax increases, $400 billion in unspecified cuts to be named later (and possibly never implemented), and $50 billion in additional "stimulus." This isn't a serious plan for economic growth or to get our nation's debt under control. We have a spending problem, not a revenue problem.
2) Congress is continuing to investigate the events that led to the death of our ambassador and three others in Benghazi, Libya. This includes searching for and examining reasons why the Administration was so adamant that the attack was the result of a spontaneous protest of a video rather than a terrorist attack they knew it was within hours. We are also looking into embassy security and the protocol for requesting more for our ambassadors serving in dangerous posts.
3) In the last month, businesses around the country have announced layoffs and hours reductions due to new Obamacare regulations anticipated to go into effect next year and the year after. Those of us who opposed Obamacare warned this would happen. Not surprisingly, businesses are doing what they must to stay afloat by cutting hours
. The truth is that Obamacare is very costly
. We also warned that the Obamacare tax on medical devices
would cost jobs and hurt innovation. It turns out, we were right and medical device companies are laying off employees
in anticipation of a new 2.3% tax. The House has already voted to repeal this tax but the Senate hasn't taken action.
DFW Welcomes the Children of Fallen Military Heroes
Service Academy Interviews
I visited the arriving families of Snowball Express
at DFW Airport to wish them well and thank the North Texas Patriot Guard Riders
for volunteering their services to escort the families. Hundreds of North Texans annually volunteer through Snowball Express
to provide families of our fallen military heroes, with nearly a thousand children in attendance, an experience where they can receive emotional healing and hope.
This weekend, outstanding students from all across the 24th District interviewed with my Service Academy Advisory Board to receive recommendations to our nation's prestigious service academies. We have an extremely talented group of young people who are seeking recommendation.
(With two students who interviewed)
(A student interviewing before the Advisory Board)
(With the Service Academy Advisory Board)
Meeting on Credit Union Lending Issues
I had the pleasure of meeting with Faith (standing to my left) of Coppell to talk about credit union lending issues in my Washington office.
In the Chair
(Chairing House floor debate)