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Congressman Tom McClintock

Representing the 4th District of California

Fiscal and Economic

More on Fiscal and Economic

February 9, 2018 Vote Notes on Legislation
This measure abandons any pretense of fiscal responsibility and increases federal spending caps by nearly $300 billion ($2,400 per household) over the next two years. It sets up a structure that will allow Congress to bypass its own budget rules...
January 18, 2018 Speeches
With the bill now taking effect, I believe people are about to see their paychecks grow, their job prospects brighten, and their family finances improve.
December 19, 2017 Speeches
I opposed the House version of the tax reform bill because the loss of broad-based deductions like state and local taxes would have caused significant tax increases on many of my middle-class constituents in the high-tax, high-cost state of California. It increased the marginal tax rate on high income earners and abolished life-line deductions such as casualty loss, medical expenses and student interest. I urged that we should leave no taxpayer behind. I want to thank Chairman Brady, the Republican Leadership and the conference committee for heeding these concerns. Their final product exceeds my expectations, and on behalf of California taxpayers I can now offer my enthusiastic support. The new version leaves the casualty loss, medical expense and student interest deductions intact.
November 16, 2017 Vote Notes on Legislation
This Vote Note refers to the earlier House version of the tax reform legislation. The Congressman supported the final version of the bill, and he discussed his support in House floor remarks titled Morning Again in America.
November 15, 2017 Speeches
This amendment assures that the tax reform bill leaves no taxpayer behind. It retains all the provisions on C-corporations and pass-throughs that are desperately needed to produce the kind of economic growth that our country is capable of. It strikes the provisions in the bill that change the personal income tax code and replaces them with a permanent, one percent across-the-board reduction in the rates in every bracket. This should fit within the existing budget authority and save an average family about $600 per year on their taxes.
November 10, 2017 Columns
In the last four national elections, Americans made it clear that we won’t accept the economic stagnation we’ve suffered during this past decade. Obama’s policies of higher taxes and greater regulatory burdens suppressed economic growth to a dismal 1 ½ percent annual average – about half the post-war growth rate of three percent.
November 8, 2017 Press Release
According to Arthur Laffer and Martin Feldstein, the business side of the tax reform will produce $5 trillion of growth over the next decade. MAGA! But we’re getting wrapped around the axle on the personal income tax side
October 27, 2017 Press Release
On Tuesday afternoon, I personally expressed to Secretary Zinke my strong objection to the proposed steep entrance fee hikes for our National Parks.
October 26, 2017 Speeches
Unsustainable government spending drives both taxes and debt. The budget resolution sets the spending architecture for the fiscal year. The House version provided for $200 billion of enforceable mandatory spending reductions over ten years and balanced within the decade.
October 4, 2017 Speeches
For the first time in many years, this budget uses the reconciliation process for the purpose it was intended: to bring mandatory spending under control.