Dear Friend:

Every week I hear from hundreds of Georgians who are concerned about the economy.  More work is clearly needed to promote economic growth, and to provide confidence to consumers, the financial markets and employers.  To that end, I have supported several initiatives in the past few months to assist small businesses, cut taxes, encourage hiring, stop wasteful spending and assist the unemployed.  In addition, I hosted my annual jobs fair on April 23, to connect workers directly with employment opportunities. 

Below are some of my recent votes to spur economic assistance. 


Boosting Small Businesses


Small businesses are the engine of our economy.  Yet, they continue to face a lack of credit. It is necessary to expand credit to community banks and credit unions in order to open up lending to small businesses.  On June 17, I voted for the Small Business Lending Fund Act (H.R. 5297), which creates two programs to increase small business lending and spur job creation.  The Small Business Lending Fund will boost lending to small businesses looking to hire and expand their operations by providing additional capital to community banks. The State Small Business Credit Initiative Program provides funding for new or existing state lending programs. 

Further, investment in new businesses needs to be encouraged with tax breaks.  On June 14, I voted for the Small Business Jobs Tax Relief Act (H.R. 5486).  This measure would increase the capital gains tax cut for those who invest in small businesses this year.  The bill would exclude 100% of capital gain income for stock in small businesses purchased through January 1, 2011.  The bill also increases the deduction for business start-up expenditures and allows more businesses to qualify.


Cutting Taxes for Middle-Class Families

 
On May 28, I voted for the American Jobs and Closing Tax Loopholes Act (H.R. 4213).  This measure will provide tax relief for middle class American families including: property tax relief; college tuition deduction; deduction for teacher classroom expenses and a tax credit for small businesses that continue to pay their National Guard and Reserve employees when they are called up to serve. 

I also voted for the Homebuyer Assistance and Improvement Act (H.R. 5623), which will extend the mortgage closing period for the homebuyer tax credit until September 30.


Job Creation for High Unemployment Areas


H.R. 4213 also provides resources to support summer employment programs and extends a jobs program that subsidizes employers who hire unemployed people.  Finally, it helps extend tax incentives for investing in Empowerment Zones and Renewal Communities. 

Cut Wasteful Spending and Improve Government Efficiency


On April 28, I voted for two bipartisan bills to eliminate waste, fraud and abuse in federal spending.  I voted for the Improper Payments Elimination and Recovery Act (H.R. 3393) would reduce improper payments that occur when a federal agency pays too much or pays twice for a product or service. I also voted for H.R. 5013, the IMPROVE Acquisition Act, which cleans up defense acquisition spending.  The bill saves taxpayers money by cleaning up waste, fraud and abuse in the defense acquisition system.

On June 16, I voted for the Efficiency, Effectiveness, and Performance Improvement Act (H.R. 2142).  This measure will help Congress conduct more effective oversight, make better-informed authorization and appropriation decisions, identify and eliminate duplicative programs, and help improve the performance of federal programs.

I supported these bills to stop wasteful government spending.  Families in my district expect that their government work efficiently.  There is no excuse to waste the taxpayer’s money.

Long-term Unemployment Benefits

The economy has taken a toll on jobs and many Americans have exhausted their unemployment benefits as they look for work.  I firmly support helping the jobless with additional assistance as they seek a new job.  On July 22, I voted for the Restoration of Emergency Unemployment Compensation Act (H.R. 4213), which extends unemployment benefits for several more months. The Senate finally approved the bill and it was signed into law by the President.
 

I am confident the spirit and determination of everyday Americans will rebuild the economy.  And I am working in Congress to create an environment where the hard work and ingenuity of America’s citizens can reach its full potential. 

Sincerely,

David Scott
Member of Congress