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Isakson, Chambliss Vote Against 'Massive' Spending Bill

Originally Published Feb 10, 2009, 1:14pm (Updated Feb 10, 2009, 1:14pm)
3 comment(s)

U.S. Senators Johnny Isakson, R-Ga., and Saxby Chambliss, R-Ga., today voted against legislation designed to stimulate the nation’s economy, arguing it includes too much spending on items that won’t help the economy and fails to confront the root problems causing America’s economic downturn. The Senate passed the legislation by a vote of 61 to 37.

“This legislation is yet another example of Congress throwing money at the symptoms but not getting to the root of the problem,” Isakson said. “While there are some good provisions in this bill, it is primarily spending money on programs that should not be categorized as stimulus and will not do anything to help our economy. Funding studies of global warming or re-seeding the Capitol lawn aren’t going to stimulate anything.”

“Instead of focusing on three major issues – job creation, housing and compassion for Americans who have lost jobs through no fault of their own – to boost the economy, this bill has morphed into a bloated government giveaway,” said Chambliss. “The majority in Congress has been in runaway mode when it comes to spending taxpayer dollars. This legislation is yet another sign that Washington is more concerned with pet projects than with the welfare of taxpayers.”

The legislation does include Isakson’s amendment to provide a direct tax credit to any homebuyer who purchases any home. Chambliss is an original co-sponsor of the amendment. The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less. Purchases must be made within one year of the legislation’s enactment, and the tax credit would not have to be repaid. Congress passed a similar homebuyer tax credit in the 1975 economic downturn and it produced immediate positive results.

According to Isakson, the amendment would allow taxpayers to claim the credit on their 2008 income tax return. It also seeks to prevent misuse by only allowing purchases of a principal residence and by recapturing the credit if the home is sold within two years of purchase. The amendment would sunset the current $7,500 housing tax credit on the date of enactment.

“It is time to fix America’s problem, not throw money at the symptoms. It is time to fix housing first,” Isakson said. “It is rare that we have a road map to success in times of difficulty, but this country has once before realized a housing crisis every bit as bad as the one we have today and economic troubles every bit as dangerous. We have a pervasive housing problem, and we have a historical precedent that works.”

“The housing issues are the root of this economic crisis,” said Chambliss. “Unless we directly address the housing issue, all of these billions of dollars will have been spent for naught.”

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Comments

3 comment(s) on this page. Add your own comment below.

norm
Feb 10, 2009 1:25pm [ 1 ]

You can't dig your way out of a hole and you can't boirrow you way out of debt. When will the DC crowd figure this out?

Kenneth B DeLong
Feb 11, 2009 5:59am [ 2 ]

The money is not theirs to spend so they do not worry about it. It is our pockets that are being picked for non-essential porkbarrel spending. The stimulus bill can be a very good deal for America and I support a properly written stimulus package. Thank you very much Isakson and Chambliss

Jim Callihan
Feb 11, 2009 7:10am [ 3 ]

THANK YOU JOHNNY! for not voting like you did over the past few years. I hope you have seen the light in time to pay the light bill. And speaking of light, did you and Saxby vote in the dark (on a paper ballot) to support Eric Holder as Attorney General. I sure hope so...I really do hope yall were tricked or something. Becuase if you weren't - don't run your "I support the Second Amendment" mouths down here ever again.

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