I. $3,550,000,000,000 Budget Passes House and Senate

Largest budget in the history of the United States passes:
On Thursday, April 2nd, I opposed passage of the largest budget in our nation’s history. This budget needlessly increases government meddling and interference in the private sector and contains no less than six key components which I did not support:

• Unprecedented Deficits: This budget proposed the 6 largest deficits in history (including a $1.7 trillion deficit for FY ’09), the smallest deficit being 28% higher than last year’s deficit which had been the highest.
• Colossal Tax Increases: This budget hides nearly $1.5 trillion in tax increases. The budget also assumes the expiration of the President’s “tax cut for 95% of Americans.” And, through the creation of 17 “deficit neutral reserve funds”, this budget allows for even more spending if it is deficit neutral (i.e., cuts spending elsewhere to pay for it or, more likely, raise taxes).
• Unsustainable Borrowing: This budget will increase the national debt 58% in five years to $17,100,000,000,000. Furthermore, publicly held debt will rise to an unprecedented 67% of GDP by 2014 compared to 37% in 2006 the last year in which Republicans controlled Congress.
• Skyrocketing Discretionary Spending: This budget increases discretionary spending by nearly 9% and discretionary nondefense spending by 27% which is the highest in history except for World War II.
• “Fast Track” for Controversial Policies: This budget proposes using the budget reconciliation process to bypass the normal legislative process to pass a massive national energy tax (which the EPA estimates would increase electricity prices between 44 and 79 percent and increase gas prices by $0.61-$1.60 per gallon) and government-run health care rationing.
• Massive Job Losses: The National Association of Manufacturers estimates that 1 million jobs could be lost if the cap and trade regime is implemented.

I did, however, support two alternative budgets. The two budgets, authored by the Ranking Member on the Budget Committee, Paul Ryan (R-WI), and Republican Study Committee (RSC) members Jim Jordan (R-OH), Tom Price (R-GA), and Mike Pence (R-IN) would have brought fiscal sanity back to the budget process. Both budgets would have spent considerably less than the budget that passed: $1.5 trillion less over 5 years for the main GOP alternative and $2.33 trillion less for the RSC alternative. Both budgets I supported curbed spending, lowered taxes, created jobs, and controlled the debt. 

You can access both alternative budgets here:
http://www.house.gov/budget_republicans/hbcrepbudget.shtml
http://rsc.tomprice.house.gov/Initiatives/RSCBudget.htm

II. National Journal Releases 2008 Vote Ratings

Ratings based on 78 key votes in House of Representatives during 2008
Every year, National Journal, a nonpartisan Washington DC-based publication, releases its ratings of the voting records of members of Congress based on 78 “key” votes spread across three categories: foreign policy, social policy, and economic policy. For 2008, I was rated the 15th most conservative (or 413th most liberal) member of Congress. More important than the ratings, however, is what my votes symbolize: a commitment to strong national defense, upholding the U.S. Constitution, and fiscal responsibility.

With respect to my foreign policy rating, I voted to:
• sustain the President Bush’s veto of the intelligence authorization bill (which would have prohibited enhanced interrogation techniques of terrorists);
• bar nations from receiving international debt relief if they conduct business with Iran; and
• increase funding for the Army’s Future Combat System and missile defense.

With respect to my social policy rating, I voted to:
• repeal the D.C. laws that prohibit possession of firearms;
• require the IRS to toughen enforcement against illegal immigrants; and
• remain on offense in the Global War on Terror by supporting foreign terrorist surveillance.

With respect to my economic policy rating, I voted to:
• pass the GOP budget which included a cap on domestic discretionary spending, an earmark moratorium, and tax-cut extensions;
• oppose $300 billion bailout of Fannie Mae and Freddie Mac; and
• oppose the federal bailout of automakers.

You can access the ratings information here:
http://www.nationaljournal.com/2008voteratings?person=400656

III. This week’s votes on the floor, hearings, and markups

Each week I get the opportunity to represent you in Congress by: 1) voting on legislation that comes to the House floor; and 2) participating in committee hearings and markups for the Committee on Financial Services. 

Key House Floor Votes

House expands government subsidies for left-wing activism:
On Tuesday, March 31st, I opposed H.R. 1388. This bill (the so-called GIVE Act) is yet another attempt by government to force taxpayers to fund left-wing “volunteer activities.” A few weeks ago when the bill was originally introduced, my colleague Virginia Foxx (R-NC) was successful in amending the bill to prohibit funds from going to groups that promote or perform abortions (i.e., Planned Parenthood) or groups indicted for voter fraud (i.e., ACORN). Unfortunately, this provision was stripped out by the Senate. Good government watchdogs and pro-family groups opposing this bill included Citizens Against Government Waste, National Taxpayers Union, Focus on the Family, Family Research Council, Eagle Forum, and Concerned Women for America.  
 

Committee on Financial Services

Payday Lending:
On Thursday, April 2nd, the Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled “H.R. 1214, the Payday Loan Reform Act of 2009.” Testifying before the Committee were: Jean Ann Fox, Director of Financial Services for Consumer Federation of America; Troy MCCullen, President and CEO of Finance America of Louisiana; G. Michael Flores, CEO of Bretton Woods, Inc.; and Gerri Guzman, member of the Montebello Unified School District Board of Education. The purpose of this hearing was to discuss potential legislation which would establish a national fee cap for short-term credit loans, preempt state law, and require mandatory disclosures.

IV. In the 24th District

ID Theft Prevention Forum on April 15th
The office of U.S. Congressman Kenny Marchant invites you to participate in a free informational forum with local law enforcement and government officials on how to identify and avoid credit and financial fraud, student loan scams, business opportunity fraud, credit card scams, and what you can do to safeguard your identity. 

What:   Forum on I.D. Theft Prevention

When:   Wednesday, April 15, 2009
              11:00 a.m.  — 12:00 p.m.

Where:  Carrollton Public Library at Josey Ranch Lake                                
              1700 Keller Springs Road
              Carrollton, TX 75006
 
Who:      Free to public

If you have any questions, please contact Congressman Marchant’s district office at (972) 556-0162 or toll free for Tarrant county residents at (866) 213-3803. This event is not sponsored by the Carrollton Public Library

V. Recommended Reading

Building on the last few weeks of books about our economy and lessons we can learn from the past, I would recommend a book I finished just last week entitled New Deal or Raw Deal: How FDR’s Economic Legacy Has Damaged America by Burton Folsom, Jr. Dr. Folsom, a historian at Hillsdale College, has written a book that challenges the conventional wisdom of the New Deal policies and their legacy seven decades after enactment. Dr. Folsom explores how wasteful spending, increased taxation, and the creation of a welfare state discouraged productivity, disincentivized risk taking, and crowded out private investment, thus prolonging the Great Depression.

VI. Great Quotes in History

“A doctrine of class war seemed to provide a solution to the problem of poverty to people who know nothing about how wealth is created.”
-Dr. Jean Kirkpatrick, 16th U.S. Ambassador to the United Nations (1981-1985)

“Somehow liberals have been unable to acquire from life what conservatives seem to be endowed with at birth: namely, a healthy skepticism of the powers of government agencies to do good.”
-Senator Daniel Patrick Moynihan, 12th U.S. Ambassador to the United Nations (1975-1976)

I am honored to represent the 24th District of Texas, and appreciate your interest in my e-newsletter.  Please contact my District or DC office with any further questions you may have or visit my website at www.marchant.house.gov.