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Lance Weighs In On Fiscal Cliff

The congressman voted in favor of the Senate agreement.

Congressman Leonard Lance (NJ-07) today issued the following statement regarding House passage of the "fiscal cliff" compromise:

“I voted in favor of the Senate agreement in large part because it provided the only option available to stop a scheduled tax hike that would have disproportionately affected New Jersey's small businesses, taxpayers, investors and working families and pushed our fragile economy deeper into recession.  

“This legislation permanently extends the Bush tax cuts for 99 percent of households.  It permanently fixes the onerous alternative minimum tax (AMT), giving tens of thousands of hard-working, middle-class New Jersey families much-needed certainty in this area.  And it extends through 2013 important small business tax breaks like the widely claimed research and development tax credit and a provision allowing businesses to write off immediately half the value of new investments, known as 50 percent bonus depreciation.

“The bill also protects New Jersey's senior citizens from massive Medicare cuts in physician payments, cancels pay raises for members of Congress and averts an expected hike in the price of milk by extending expiring dairy policy.

“Essential discussions about spending cuts and the debt ceiling will continue in early 2013, and I welcome this debate.  It is now time to focus on reforming our entitlement programs and reducing Washington’s out-of-control spending that has led to record debt and trillion dollar annual deficits under President Obama.”

 

 

Mike January 03, 2013 at 02:35 PM
This is why I will never vote for you again. The government needs to admit to the people that commitments it has made cannot be kept. Tax games like this mean nothing without serious entitlement reform and spending cuts, yet Congress goes home with a pay raise. We should have just gone over the cliff. Congress needs to do its job.
bruno katsch January 03, 2013 at 03:45 PM
I understand how u feel. The country got $1 in spending cuts for $40 increase in taxes. Thats awful! The battle was lost when the Republicans didn't back the speaker 100%
Monk January 03, 2013 at 04:25 PM
Where is the leadership? So, the solution to continual deficits and ballooning debt is ... squeezing taxpayers and more spending? Who else besides the government and organized criminals can shake down people for as much as they want under penalty of imprisonment or worse? At least private corporations cannot coerce you to pay for their product or service. The elitist ruling class has made a farce out of the free market and economy.
Brad Schaeffer January 03, 2013 at 05:27 PM
Americans have decided they want a European welfare state, but they don't want to pay European taxes. Sorry, you cannot have the former without paying the latter. This lesson will become clearer as the mathematical cracks that inevitably form in all welfare states emerge here as expenses continue to out pace revenues and the national debt grows ever wider. Every child you see you should treat with the utmost respect...they are the ones who will foot the bill for our spending. We are spending money yet to be earnerd by generations just born and yet to be born to live out our days in a comfortable decline of the West. This is what Americans voted for. I woud like to see all those who believe that everyone should "pay their fair share" (as defined by who exactly?) when they get their first paychecks in a few days. They will be imitating Jennifer Anniston's sheltered character Rachel on friends who gets her first ever paycheck and quizzically askes: "Who's this man FICA taking all my money?"
South Westfielder January 03, 2013 at 05:47 PM
Brad, you make an excellent point. One good thing though, France voted down the 75% tax for those in the top percent. This proves that there are limits.
Edward O'Malley January 03, 2013 at 09:52 PM
We did not have an entitlements problem prior to the irresponsible government of the early 2000's and its cavalier regulatory folly that led to the capital markets freezing and the economy collapsing. Remember counterparty risk? Harvey Pitt? Financial recessions last longer and cause more damage than inventory adjustments or business cycle swings because they undermine systemic confidence. The US has experienced four financial recessions in its history. Each occurred during a Republican administration. The solution lies in greater commitment to taking personal responsibility for the consequences of our votes.
Will January 03, 2013 at 10:29 PM
Brad, Very well said. Yes, a majority of (uniformed ) Americans voted for this….disguised “fairness to the middle class”, but at the expense others and free market capitalism. We’re now on an accelerated path towards decline. I especially liked your comment that we need to treat children with the “utmost respect”. Children and grandchildren will curse our generation. They’ll look back see our out of control spending and entitlements, all without regard to their future, in the name of fairness and “protecting all Americans affordable healthcare…affordable college…affordable mortgages”, not to mention “investments in green energy…Solyndra; Tesla… etc.” Not only have we added +$1 Trillion to the debt each of the last 4 years, we have accumulated over $60 Trillion in unfunded liabilities….all before the new healthcare expenditures and further expanded entitlements kick in. No chance of America having a greatest generation anymore, we are (as the election results reflect) the entitlement generation.
Mike January 04, 2013 at 12:51 PM
I can guarantee one thing, we won't be hearing from our Congressman on this thread
Concerned January 04, 2013 at 01:31 PM
Our parents were the greatest generation. We will be known by generations to come as the selfish generation due to our spend and borrow mentality in Washington. The economic meltdown was caused by many bad policy decisions from Washington. We cannot tax the debt away. Entitlements must be reformed. I am afraid thees reforms will never happen and our childrens children will pay a huge price as their quality of life and the security of our country will decline
South Westfielder January 06, 2013 at 02:22 PM
The new reality is "what is in it for me', not what is best for the common good and creating an environment where those with skill, knowelege, drive and innovation can achieve something beyone their wildest dreams. Everyone wants only what is best for him/her, what others have or are getting. Members of both parties are to blame as are we, because we keep electing them. We are dumbing down society, squashing competition, progress and innovation.
South Westfielder January 06, 2013 at 02:26 PM
Not kowing how old you are, but the greatest generation were those who were old enough to fight in or remember WWI. Republican and Democrat parents of this generation knew they had to work hard, there were no entitlements, that they could only buy what they could afford, if they wanted something they would save, were not jeaous of what others had, and were wiling to hep out those in need. They knew sacrifice for the common good and how to teach their children ethics, values and the value of hard work.
South Westfielder January 06, 2013 at 02:27 PM
I meant WWII.
Bob January 06, 2013 at 02:38 PM
Thank you Leonard for your reasonable vote. We elected you to be help solve important problems our nation faces. We understand you are still a fiscal conservative but this was not the time to act the demagogue.
Bob F. January 08, 2013 at 11:28 PM
Thank you Congressman Leonard for your sensible action.
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