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Rob Wittman talks about his path to politics, economy to group of young professionals Date published: 2/2/2010
BY BILL FREEHLING The Fredericksburg region is well-positioned to take advantage of the economic opportunities developing in Washington and Northern Virginia, U.S. Rep. Rob Wittman said yesterday. Wittman, a Republican congressman who represents much of the Fredericksburg region, made his remarks to a group of young professionals gathered at Brock's Riverside Grill in Fredericksburg. Wittman told the "Next Generation of Business Leaders" group that he can see the Fredericksburg region picking up reverse-commuting jobs from Northern Virginia as people look to escape Washington's congestion. He called on the area's localities and business groups to come together and market the region, and he predicted that small businesses will lead the country slowly out of its current woes. Wittman's comments came during a monthly lunch meeting that the NGBL holds called "Monday Motivation." Wittman spent much of his 45-minute talk discussing the path that led him into politics--one that started in town and local government in Westmoreland County and progressed to state and national positions. He said he didn't have a grand plan to get into politics but took opportunities as they came. Wittman addressed a number of policy questions during the question-and-answer session that followed the formal remarks. Among the subjects he discussed: He called for a $15,000 tax credit for every homebuyer, not just first-timers. He also called on banks to speed up the process of short sales to get the housing market moving. He thinks it's important to regulate financial markets, particularly those involving derivatives such as credit default swaps, but he doesn't agree that banks should be slapped with punitive taxes so the government can recoup money from TARP. He said that would create a "chilling effect" on lending and cause banks to pass along the fees to customers. He favors a complete abolition of the estate/death tax, but he's willing to support a Senate bill that exempts the first $10 million of an individual's wealth and taxes about a third of the rest. He thinks a House version that creates a $3.5 million exemption ($7 million for married couples) isn't sufficient. Bill Freehling: 540/374-5405
how Republicans champion abolishing the estate tax and decry budget deficits in the next breath. What princples are at work here? I'm afraid the Congressman is mistaken as to why the Govt. wants to recoup money from TARP. The money was made available to the banks via TARP in order for the banks to continue lending. However, the banks haven't been lending. It would seem fair for the Govt. to recoup the TARP money (which is ours, by the way).
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