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Organization: U.S. Rep. Howard P. "Buck" McKeon
Date: February 5, 2009
McKeon, Local Business Owners Tout Republican Economic Recovery Plan
WASHINGTON, D.C. — At a press conference earlier today, Rep. Howard P. "Buck" McKeon (R-Santa Clarita) stood alongside a local business owner and automobile dealership owner to discuss the current state of the economy, the Republican Economic Recovery Plan, and McKeon's proposed auto tax deduction, which is currently included in the Senate version of the Democrat economic stimulus package.
"California's economy is hurting, much like the rest of the country, because consumer confidence and spending are at record lows," stated McKeon. "As a result, unemployment rates are at an astounding 9.9 percent unemployment rate in areas of Los Angeles County. Unfortunately, the economic plan Democrats are pushing through the legislative process will do little to actually stimulate the economy and appears to be nothing more than a monster ‘spending' bill."
"Republicans have offered a common-sense Economic Recovery Plan, which addresses the weakest areas of the economy and saves the $1.1 trillion debt Democrats are trying to stick to American taxpayers. Our local businesses are reaching the breaking point, where employee layoffs are necessary, because of the inaction by Democrats. What we need is job creation and revitalization of the economy, not government expansion."
John Hoskinson, President and Chief Executive Officer of Gruber Systems joined the Congressman to discuss the impact the economy is having on his company.
Don Fleming, President of Valencia Acura, also discussed the current state of the economy and McKeon's auto tax deduction. Earlier this week, the Senate voted 71-26 to add the Auto Ownership Tax Assistance Act of 2009, the auto tax deduction bill, to the Senate "stimulus" package. The tax assistance measure would give up to $1500 in tax relief to write off loan interest on new car purchases in 2009 through a tax deduction.
Recent reports indicate that January 2009 car sales are down 40 percent for Ford, 49 percent for GMC and 55 percent for Chrysler over last January (2008). This is the lowest level of sales volume since 1981.
Last week, McKeon joined his Republican colleagues to unanimously oppose H.R. 1, the American Recovery and Reinvestment Act of 2009, which passed the House of Representatives with a vote of 244-188. All House Republicans and 11 Democrats voted against the Democrat measure. McKeon instead voted for the House Republican Economic Recovery Plan.
The Democrat economic package is currently being debated in the Senate Chamber.
