Asa Hutchinson on Budget & Economy
Former Administrator of D.E.A.; former Republican Representative (AR-3)
Hutchinson: Strongly Agree
Hutchinson's campaign criticized the Democratic group's new ad. "This ad is misleading and hypocritical. They need to check their facts. Asa was practicing law in Arkansas while Mike Ross was voting for these very bills in Washington."
The ad says Hutchinson and the firm where he worked after leaving Congress benefited from the stimulus program. "While Hutchinson and his lobbying firm were cashing in on a stimulus bill and the Wall Street and Detroit bailouts, Mike Ross was fighting for a balanced budget amendment and voting against congressional pay raises," a Ross spokesman said.
OFFICIAL CONGRESSIONAL SUMMARY: Amends the Internal Revenue Code to permit an individual to designate three dollars on his or her income tax return (six dollars on a joint return) to be used to reduce the public debt of the United States.
SPONSOR'S INTRODUCTORY STATEMENT: Pres. Eisenhower apparently once said that he believed that there could be no surplus as long as our Nation was in debt. I come from that school of thought, and yet that is not exactly where we are right now in Washington.
Where we are right now is debating whether or not 90 percent or 50 percent, or some number in between, of these projected future surpluses should be allocated to the debt. What struck me is the fact that really more than just the Congress should be involved in that debate. It is for that reason that I introduce today the Taxpayers' Choice Debt Reduction Act.
What this bill would do would be to simply take the 1040, the tax return as we now know it. And right now, we can send $3 to the presidential campaign. This would create another box wherein we could send 3 bucks to debt reduction. That is not enough money to change our national debt, but it is enough money to make a small step in an important debate that we all ought to be a part of.
LEGISLATIVE OUTCOME: Referred to the House Committee on Ways and Means; never called for a House vote.