On Wednesday, I joined a group of 100 Members of Congress, comprised of Democrats and Republicans, that called on the Super committee to give America a solution that is so big, so comprehensive, and so inclusive, that it makes the meaningful reforms necessary to far surpass the Super committee's goal of cutting $1.2 trillion from the deficit. I want to see Washington cutting $4 trillion, $8 trillion, or even $10 trillion over the next 10 years. The point of this gathering was not to suggest to the committee how to come up with a solution; rather, it was a bipartisan showing of our support from 100 of the House's 435 members and almost half of the Senate.
Along with the bipartisan group, I told the committee to "cowboy up," forgo the toxic political atmosphere in Washington, and focus on discussing all options on the table, including addressing entitlements and revenue generation.
Some people confuse the concept of revenue generation with tax increases; those ideas are not interchangeable. Revenue comes in many forms. I support producing more American oil and gas, both onshore and off-shore, thereby raising revenues by increasing royalty income. Increased energy production will not only benefit the nation's fiscal situation, it will also free up the budgets of families who are struggling to make ends meet as energy prices continue to remain high.
I also believe reforming the tax code – broadening the base by limiting loopholes, deduction and credits, while simultaneously reducing the tax rate – is a viable solution to getting control of America's runaway debt. A tax plan that promotes economic growth leads to increased government revenues.
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