Bill Pascrell, Representing the 8th Congressional District of New Jersey
Bill’s Views on the
Economy
In recent years, middle class families have found their economic circumstances increasingly uncertain. Many workers face wage stagnation, or even prolonged unemployment, and fewer workers have guaranteed pension benefit plans, causing many to worry about retirement. All of this uncertainty comes at a time when families face increasing costs for education, health care, and energy.
Bill knows that many American families are finding it harder and harder to hold on to the American dream. Too often, we hear about parents worried that their children will not be able to build on their success and create a higher standard of living for themselves. As a member of the House Ways and Means Committee with broad jurisdiction over economic policies, Bill is taking a deeper look at what is driving these concerns so he can help build and maintain an economy that works for all Americans.
In the last year Bill helped successfully prevent middle class workers from paying the Alternative Minimum Tax that would have added thousands of dollars to their tax burden. He pushed legislation to increase the federal minimum wage, while working to give tax relief for small business owners nationwide. He worked hard to help create change in our nation's trade agenda so that American workers are no longer left behind. Bill got into public service to fight for working families and it is a cause he will not give up.
In the 111th Congress, Bill voted in support of the American Recovery and Reinvestment Act of 2009 which will create and save 100,000 jobs in New Jersey. The package also included more than $1.6 billion to stimulate automobile sales. Bill championed a provision which would allow taxpayers a deduction for State and local sales and excise taxes paid on the purchase of a new car through 2009 to help ailing auto industry including thousands of dealerships nationwide. The final recovery bill also provided for more than $26.6 billion in highway infrastructure investment including more than $651 million for New Jersey.
Bill also voted for the Congressional Budget for Fiscal Year 2010. The Budget includes $1.7 trillion in tax cuts for middle-income families and lays out a substantial tax relief plan for working class families. Specifically, it includes tax cuts for 3.2 million families through the Making Work Pay tax credit; a tax cut up to $400 for individuals and $800 for families; $594.5 million for schools, students, and teachers; $2.3 billion in new funding for Pell Grants to help families pay for college; and a pay raise for the 25,500 men and women in New Jersey serving in our Armed Forces.
The Budget also assists small businesses with improved marketing, technical, and contracting assistance. It supports $17.5 billion in loan guarantees to get credit flowing again. The Budget also invests $49.6 million in the Federal HOME program and $63.3 million in the Housing Choice Voucher program to help NJ families.
In May, Bill co-sponsored and voted to approve the Credit Cardholder Bill of Rights Act. This measure ceases the cycle mounting credit card debt faced by millions of Americans and ensures consumer protections against the predatory practices of the credit card companies.
Bill knows that in the end, the key to our economic recovery is in empowering working-class Americans. He will keep fighting to accomplish that end.
Related News
- Pascrell, NJCDC Hail $700k in New Federal Funding For Paterson YouthBuild
- June 15, 2009
- Pascrell Announces $8 Million In Recovery Zone Bonding for Paterson; $25 Million to Passaic County
- June 12, 2009
- Pascrell Introduces Puerto Rico Work And Empowerment Act
- June 12, 2009
Related Op-Eds
- Infrastructure Investment Will Boost New Jersey's Economy
- February 1, 2009
- Relief For The Middle Class
- October 3, 2008
- Addressing the Housing Market Crisis
- May 13, 2008
Related Videos
- State of Our Economy
- September 15, 2009
- Mortgage Reform and Anti-Predatory Lending Act
- May 6, 2009
- Credit Cardholders' Bill of Rights Act of 2009
- April 29, 2009
Some documents on this site require the above.