Today the President released his Fiscal Year 2013 budget plan calling for record $3.8 trillion in spending for Fiscal Year 2013, projecting another $1.3 trillion budget deficit for 2012, and a budget path that never balances and increases the overall national debt to $25 Trillion in 2022.
“This is not a serious plan to make Washington live within its means,” said Congressman Bill… Read more »
Congressman Bill Posey (R-Rockledge) released the following statement commending local groups for working to bring another World Boxing Organization (WBO) sanctioned boxing night to Palm Bay, Florida this year:
“It’s exciting that the Greater Palm Bay Chamber, the Space Coast TDC, and All Star Boxing are once again working with Telemundo to bring a second round of boxing entertainment… Read more »
While speaking at Disney World today, President Obama embraced the provisions of bipartisan legislation introduced this past September by U.S. Representatives Joe Heck (R-NV) and Bill Posey (R-FL) to help attract more international tourists to U.S. travel destinations. The Welcoming Business Travelers and Tourists to America Act (H.R. 3039) currently has 35 cosponsors, including six… Read more »
Today, the U.S. House of Representatives approved a 1200-page omnibus spending bill for Fiscal Year 2012 bringing total discretionary spending to more than $1.053 trillion, several billion more than last year's spending level. Congressman Bill Posey voted against the legislation, which spends $31.6 billion more than the House passed budget plan and nearly $10 billion more than the… Read more »
With the support of Congressman Bill Posey (R-Rockledge), the House of Representatives passed legislation to make high cost federal regulations subject to Congressional approval. The Regulations from the Executive in Need of Scrutiny Act or REINS Act provides a check on the authority of federal regulators to create rules and regulations found to have a major cost on the economy.
“This… Read more »
The Asian American Hotel Owners Association (AAHOA), whose 10,000 members own more than 40% of all U.S. Hotels, has come out in support of Congressman Bill Posey’s (R-FL) bipartisan legislation (H.R. 1723) to aid economic recovery by preventing federal bank regulators from arbitrarily penalizing community banks for working with borrowers to modify their loans or accepting mortgage… Read more »
Congressman Posey is the lead sponsor of bipartisan legislation to aid job creation and economic recovery by preventing federal bank regulators from arbitrarily penalizing small community banks for working with borrowers to modify their loans or accepting mortgage payments from someone other than the borrower. Since the 2008 financial crisis, federal bank regulators have been… Read more »
Congressman Posey introduced the Child Tax Credit Preservation Act which makes the $1,000 per child tax credit permanent and requires that it be indexed to account for inflation each year. The idea behind the legislation is to help families plan for future expenses and to correct for the value of the credit which has eroded due to inflation since 2001 when it was set at $1,000. It should… Read more »
Congressman Posey introduced the Housing Recovery Act which is aimed at relieving the market of foreclosed properties and making homes more affordable. H.R. 1526 early distribution penalties on withdrawals from an IRA, Roth IRA or 401K if the funds are used to purchase a home that has been in foreclosure for a year or more, provided the buyer owns the home for at least 2 years. If the… Read more »
Congressman Posey filed bipartisan legislation (H.R. 2568) to prevent the flight of billions of dollars in foreign bank deposits from U.S. banks. The IRS recently proposed overturning a nearly 100 year old policy, without direction from Congress, with a regulation requiring all U.S. banks to report annually on the amount of interest paid to non-resident alien individual deposits. By law,… Read more »
