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Congressman Jeff Miller's Newsletter - November 20, 2011

Congressman Jeff Miller's Newsletter   

The size of our national debt is astounding, and its rapid expansion is extremely troubling as it continues to threaten our economy and hamper the ability of businesses to grow.  We cannot risk the future prosperity of our nation by continuing to recklessly spend money and heap trillions of dollars of debt on the backs of our children and grandchildren. 

The idea that massive debts are harmful to the government, and that laws should be put in place to safeguard taxpayers from these consequences, is not a new idea.  Thomas Jefferson advocated for a balanced budget over 200 years ago.  In 1982, in a speech to the nation on the federal budget, President Reagan told us, “We have tried the carrot and it failed, but with the stick of a Balanced Budget Amendment we can stop government’s squandering overtaxing ways and save our economy.”  And in 1995, a Balanced Budget Amendment passed the House of Representatives only to fall one vote short in the Senate of receiving the necessary two-thirds majority required to send a constitutional amendment to the states for ratification.

In the sixteen years since, our national debt has nearly tripled in size, growing by almost $10 trillion, or approximately $1.6 billion per day.  This year alone the federal government will spend $3.7 trillion, while only collecting $2.2 trillion in revenue, meaning that more than 40 cents out of every dollar that we spend is borrowed money.  In fact, all federal spending after July 27 of this year has come from borrowed money.

Our budgetary problems are difficult, but the ultimate answer is simple.  Last week, the House of Representatives voted on the solution.  We held a vote on a four page bill that has the power to fundamentally change the flawed way that Washington spends taxpayer money by sending a Balanced Budget Constitutional Amendment to the states for ratification.  This commonsense bill would have forced the federal government to abide by the same basic budgetary principle that guides families throughout the nation and 49 out of 50 state governments: don’t spend more than you take in.  Despite the fact that Republicans overwhelmingly supported the Balanced Budget Amendment, I am deeply concerned that fewer than 30 Democrats voted in favor of the bill, which failed to achieve the necessary two-thirds majority.  Some Democrat Members who voted in favor of a Balanced Budget Amendment in 1995 changed their position for partisan reasons, thwarting the will of the people. 

It is essential to reduce spending now, and House Republicans have been leading this effort since day one of the 112th Congress.  But the fact is that any spending reductions we make now can be offset in future congresses by more reckless spending.  That is why it is imperative to pass a measure to permanently ensure that our federal government operates in a manner that is fiscally responsible.  But House Democrats obstructed the passage of a simple solution supported by nearly three quarters of Americans that would help solve our debt crisis. 

I have consistently supported a Balanced Budget Amendment since I came to Congress.  Throughout these years, I have seen support for it continue to grow.  Today, more than 65 percent of Americans support a Balanced Budget Amendment.  They support it because they realize that a Balanced Budget Amendment is a game-changer.  They realize that our federal budget and the state of our economy are tied together, and that passing a Balanced Budget Amendment would help to provide some much needed economic certainty to American businesses and entrepreneurs.  I was extremely disappointed to see my colleagues on the other side of the aisle stand in the way of its final passage.  The need to fundamentally change the way Washington spends taxpayer money is imperative.  As we have seen and many have felt, an unbalanced budget with record deficits is a recipe for disaster.  Congress should not force American taxpayers to stomach the consequences of fiscal irresponsibility and the American people should not accept it.

Balanced Budget Amendment Vote

Washington D.C.—Congressman Jeff Miller (R-FL-01) issued the following statement on a proposed Balanced Budget Amendment to the Constitution:

“Washington has a spending problem.  The reckless expansion of our debt threatens our economic prosperity.  Continuing on the same reckless path and placing the burden of our economic irresponsibility on our children and our grandchildren is not an option.  

Across the country, Americans have been calling for fiscal responsibility, and their efforts have changed the debate and forced Washington to change its big spending ways.  And these ideas are not new.  Great Americans from Thomas Jefferson to Ronald Reagan have called for fiscal responsibility and advocated for a Balanced Budget Amendment to the Constitution.

House Republicans have led the effort to chart a new course, but today House Democrats blocked the most important budget measure to come before the House since 1995.  They blocked a Balanced Budget Amendment despite the fact that almost three quarters of the American public support it.  I was extremely disappointed that Democrat Members, including many who voted for a Balanced Budget Amendment in 1995, stood in opposition precisely when our nation can least afford to bankroll more reckless spending.”

Veterans Day Newsletter November 11, 2011

The United States of America is the greatest country on earth because of the sacrifices of the men and women who fight every day to defend our freedoms and those of our Allies around the world.  For 235 years, our soldiers have fought on battlefields, across the oceans, and in the air to protect the American way of life.  Today, on Veterans Day, we honor this service and sacrifice by taking a moment to remember and honor those who have worn the uniform in defense of our Nation.

Although this is the 58th year we have officially celebrated Veterans Day, our history of honoring our veterans extends back much farther.  Known originally as Armistice Day, November 11 was designated as a day to honor the anniversary of the signing of the Armistice that ended World War I, which went into effect at the 11th hour of the 11th day of the 11th month of 1918.   In 1954, President Eisenhower signed legislation extending the November 11th celebration to all veterans. 

As we honor our country’s veterans today, it is my sincere hope that each of you will join in not just another federal holiday, but use the day as a time to remember those who have served in our U.S. Armed Services.  As Iraq War veteran Phillip Carter put it so eloquently in this week’s Washington Post:

“Whether civilians fully realize it or not, the simple message of thanks sends a powerful message to veterans — that the nation will take responsibility for our actions in her service. In some small way, this collective acceptance of responsibility helps veterans to transfer some of the psychological burdens of wartime service to society. Such gratitude will not eradicate combat stress nor address every veteran’s experience. However, these small gestures do make a difference.”

It was their duty to fight for us overseas, and now it is our duty to fight for them at home.  I have spent my years in Congress working to improve the lives of our veterans and their families, and I hope you will join me in this mission.

So thank a veteran for his or her service.  Take a moment to reflect on their sacrifice.  Visit a local veterans’ cemetery to honor the fallen.  Join others in local charities that support our troops and veterans.  Write a card to a loved one stationed abroad or a friend who has served.  Not just today, but every day. 

And above all, remember what these brave men and women fought for – our lives, our freedom, and our country. 

To share in a small bit of our veterans’ history on video, please visit: http://veterans.house.gov/americas-heroes.

Congressman Jeff Miller to Host Health Fair For Seniors

Congressman Jeff Miller (R-FL) today announced that he will be hosting a Seniors Health Fair on Tuesday, November 15th.

Miller said the events will take place from 8:00 a.m. to 10:00 a.m. at the Bayview Resource Center.  Seniors and their families are invited to visit the fair to receive flu shots and basic health screenings.  Experts will be on hand to discuss Social Security and Medicare.  Veterans are also encouraged to attend to get more information on TRICARE for Life and VA health benefits.

“This is just another way we can better serve seniors in Northwest Florida,” Miller said. “The Senior Health Fair will help give constituents access to the information they need to enjoy their golden years in good health.”


Seniors Health Fair

Tuesday, August 15
8:00 a.m. – 10:00 a.m. CT

Bayview Resource Center
2001 East Lloyd Street
Pensacola, FL 32503

Congressman Jeff Miller Newsletter November 6, 2011

Across the country, unemployed Americans and small business owners are struggling with an economy that remains fragile.  Every day, businesses are forced to turn down qualified applicants because they aren’t certain if they will be able to support expanding their workforce.  This uncertainty is holding back our economy and weighing heavily on the minds of millions of Americans. 

Throughout the current 112th Congress, House Republicans have been fully committed to reducing this uncertainty and creating an economic environment that allows our job creators to start putting unemployed Americans back to work.  But time and again we have seen our efforts ignored by the Senate Democratic leadership.  And it seems that House Republicans aren’t the only ones upset with the Senate’s lack of action.  We have reached the point where even Democrat Senators are fed up with the Senate gridlock. Senator Joe Manchin (D-WV) recently said, “It seems all we care about is scoring political points to be used in the next election.”

While Majority Leader Harry Reid (D-NV) remains unwilling to take up nearly two dozen jobs bills that are currently stalled in Senate gridlock, House Republicans continue to pass jobs bills.  We remain committed to working with Congressmen and Senators from across the political spectrum to find common ground, move forward and help our businesses hire new employees. 

Small businesses are the engine of our economy, and they have traditionally led job creation during economic recoveries.  But in order to expand, small businesses need access to capital.  Without access to capital, businesses lack the resources to enhance their operations and hire new employees.  In the wake of the financial crisis, many small businesses are finding that it is more difficult for them obtain credit from banks.  With credit tight, equity financing is an increasingly essential means of providing small companies with the capital they need to grow and create jobs.  Equity financing allows small businesses to expand their operations by accessing new capital from investors, who purchase ownership stakes in a company in exchange for a share of the company's future profits. 

Last week, the House passed legislation that would help small businesses and entrepreneurs access the capital they need to grow and create jobs.  H.R. 2940, the Access to Capital for Job Creators Act, amends current Securities and Exchange Commission (SEC) regulations that prohibit businesses from raising capital by selling their securities through general solicitations or advertising, unless they register these securities with the SEC.  Currently, businesses are only able to sell unregistered securities if they have an existing relationship with the investor. This requirement significantly limits the pool of potential investors and severely hampers the ability of small companies to raise capital and create jobs.  H.R. 2940 would remove these restrictions and allow companies greater access to new sources of capital to grow and create jobs.

The House also passed H.R. 2930, the Entrepreneur Access to Capital Act.  This bill would create a new SEC registration exemption for securities issued through internet platforms. Increasingly, groups of small investors are pooling their money, typically with very modest individual contributions, to support an effort by a company to expand their operations.   As this legislation is targeted at small businesses, a business cannot offer more than $1 million in securities annually, unless they provide investors with audited financial statements.  H.R. 2930 is also targeted at groups of small online investors, so an individual's annual investment cannot exceed $10,000.  Both the individual investment cap and the annual cap on securities offerings are indexed to inflation to ensure that future investors and businesses can continue to benefit from this bill.  Current SEC regulations impede this new innovative and lower-risk form of financing.  By exempting small business securities from registration with the SEC, H.R. 2930 will enable entrepreneurs to more easily access capital from potential investors across the country to expand their business and create new jobs. 

On the other side of the Capitol, Senate Democrats decided to push forward with a vote on a fundamentally flawed bill that would call for more than $55 billion in additional spending, while also raising taxes.  This bill was part of President Obama’s jobs plan.  While there are some parts of the President’s plan that both Republicans and Democrats support, using a permanent tax increase to pay for temporary spending is not one of them.  

Like the other parts of the President’s jobs plan that have come before the Senate, this bill failed.  In fact, this bill actually contradicts the President’s call for immediate action.  Less than 10 percent of the spending would occur next year, while more than 40 percent would not be spent until 2015.  Meanwhile, the tax increases would immediately go into effect at a time when we can least afford to raise taxes. 

Unlike the Senate’s failed efforts, the House passed Republican jobs bills are designed to improve our economy, not to score cheap political points.  While House Republicans continue to lead the effort in passing bipartisan jobs legislation, the Senate continues to trip on its own feet.  The most recent House jobs bills represent a continued effort by House Republicans to find common ground to work with both the Administration and the Senate to help businesses improve our economy and reduce unemployment.  I sincerely hope that these bills are not simply added to the list of House passed job bills that the Senate Majority leaders seem to be using as little more than doorstops.