From the office of Rep. Randy Hultgren (R, Illinois 14th District)…
Last week we learned that the United States’ credit rating is at risk of a downgrade by another ratings agency before the end of 2011. This is a stark reminder of the consequences of the Senate’s failure to pass the Cut, Cap and Balance Act approved by the House in July. I believed then – and still believe now – that the commonsense Cut, Cap and Balance Act was the only way to preserve our nation’s sterling credit rating.
If you agree with me and would like to have your opinion heard on a Balanced Budget Amendment, visit America Speaking Out.
The biggest news out of the Capitol last week was a huge victory for job creators as the House came together in a strong, bipartisan manner to repeal the onerous 3 percent withholding tax, which was yet another job-crushing burden aimed at the business community.
Much like the costly ‘1099 requirement’ that we repealed earlier this year, the 3 percent withholding rule would have imposed substantial new burdens on already cash-strapped employers, hindering cash flows, and further obstructing job creation. President Obama has already indicated that he will sign this legislation, so I urge the Senate to act quickly.
I was saddened to hear of the passing of a friend and former colleague this week, State Senator Wendell Jones. My thoughts and prayers go out to his wife and family during this difficult time.
As always, it is truly an honor to serve you in Washington. Please contact me at 630.232.7104 or 202.225.2976 if I can be of assistance, or if you’d like to share your thoughts on the issues before Congress.
Member of Congress
Video of the Week
Watch Congressman Randy Hultgren speak out on the Senate’s failure to pass the Cut, Cap and Balance Act and how it could lead to a further downgrade of the United States’ sovereign credit rating.
Coming Up in Washington
Some of the bills the House is planning to consider this week:
H.R. 1002 – Wireless Tax Fairness Act of 2011
H.R.1070 – Small Company Capital Formation Act of 2011
S. 894 – The Veterans’ Compensation Cost-of-Living Adjustment Act of 2011
H.R. 2940 – Access to Capital for Job Creators Act
H.R. 2930 – Entrepreneur Access to Capital Act
Randy In The News