Wednesday, December 19, 2012

Senator Bob Corker Responding to your message

 
Dear Samuel,
 
Thank you for taking the time to contact me about the need for fiscal reform. Your input is important to me, and I appreciate the time you took to share your thoughts.
 
I am deeply concerned about the dire fiscal situation of the United States government and the need to reduce spending. Last year alone we added $1.1 trillion of debt, causing the nation's debt to reach 100% of our GDP. Massive annual deficits are projected for years to come unless we drastically change the spending habits in Washington. Instead of addressing our fiscal problems head on, Congress set up a combination of tax increases and sequestration spending cuts scheduled to occur at the beginning of 2013. 
 
Because of the seriousness of the situation, I believe that Congress must agree on responsible spending cuts and tax reforms before the end of the year that provide financial certainty to families and businesses and maintain adequate funding levels for key programs. We need pro-growth tax reform along with  implementing a long-term plan to restore solvency to Medicare and Social Security.  These changes would dramatically lower the deficit and  get our economy really moving again.
 
Kicking the can down the road — setting up a process for token deficit reduction today with the promise of more reforms later as some have suggested — is misguided and irresponsible and shows a total lack of courage. We have had two dry runs over the past two years – through the Simpson-Bowles Commission in 2010 and the so-called "super committee" in 2011. No Congress is better suited to address our long-term fiscal issues than this one. It is our responsibility to solve these problems now.
 
I have shared with House and Senate leaders as well as the White House a 242-page bill that, along with other agreed-upon cuts that are to be enacted, would produce $4.5 trillion in fiscal reforms and replace sequestration. While I know this bill can be improved, it shows clearly that we can do what is necessary, today, with relatively simple legislation. 
 
The proposal includes pro-growth federal tax reform, which generates more static revenue — mostly from very high-income Americans — by capping federal deductions at $50,000 without raising tax rates. It mandates common-sense reforms to the federal workforce, which will help bring its compensation in line with private-sector benefits, and implements a chained consumer price index across the government, a more accurate indicator of inflation. 
 
It also includes comprehensive Medicare reform that keeps in place fee-for-service Medicare without capping growth, competing side by side with private options that seniors can choose instead if they wish. Coupled with gradual age increases within Medicare and Social Security; the introduction of means testing; increasing premiums ever so slightly for those making more than $50,000 a year in retirement; and ending a massive "bed tax" gimmick the states use in Medicaid to bilk the federal government of billions, this reform would put our country on firmer financial footing and begin to vanquish our long-term deficit.
 
The challenge Congress and the President face isn't one of intellect, aptitude, or time; it's a test of political courage. I will do all I can to convince other elected leaders in Washington to put America on a path to fiscal solvency, unleashing a period of economic growth, job creation and innovation. I remain hopeful that they will place the issues surrounding the fiscal cliff firmly in the rear-view mirror so that we can begin next year focusing on those things that ensure America's greatest days still lie ahead.
 
Thank you again for your letter. I hope that you will continue to share your thoughts with me throughout my time serving you in the Senate.
 


Sincerely,

Bob Corker
United States Senator
 

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