Manzullo Opposes Tax Breaks Out of TARP Funds

16th Congressional District U.S. Representative Don Manzullo (R-Egan) was asked to comment on President’s Barack Obama’s most recent proposal to rev up the economy.

“We’ve got to stop this crazy spending going on,” Manzullo told the Fox business channel.

Manzullo’s press release follows:

Concerns with Administration’s Plan to Continue Deficit Spending in Latest Stimulus Proposal

[WASHINGTON]  Congressman Don Manzullo (R-IL) appeared on the Fox Business channel this afternoon with his colleague Rep. Mel Watt (D-NC) to discuss the President’s latest stimulus plan.

Manzullo supports tax relief to help small employers put Americans back to work, which is a part of the President’s plan, but he expressed serious concerns that the Administration will continue to dig America deeper into debt to pay for its proposal. The plan should be offset with spending cuts, he said. The federal deficit stands at an alarming $1.4 trillion, the national debt is beyond $12 trillion, and Americans are paying hundreds of billions of dollars annually in interest on the debt. Furthermore, Moody’s announced today it is considering downgrading the U.S. credit rating.

Here’s his appearance on Fox Business:

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