Mike Lee on The Economy

Last Updated : Jul 22, 2010

Summary

Mike Lee has been critical of both TARP and the 2009 Stimulus package. He referred to the TARP program as arguably the largest redistribution of wealth, up to that point, ever encapsulated in one piece of legislation. He has stated that the federal government simply cannot create wealth, and that the answer is a reduction in the size of government which will reduce the burden on Americans.

He is in support of an audit of the Fed and opposed to the existence of Freddie Mac and Fannie Mae.

 

NRO Article

In an April 2010 article, Mike Lee was quoted as saying that the TARP legislation was the largest redistribution of wealth ever encapsulated in one piece of legislation.

 

Deseret News Survey

In June of 2010, Mike Lee responded to a survey that was issued by Deseret News and said the following about the economy:

 

Fannie Mae and Freddie Mac

At a campaign rally in Layton, Utah in May of 2010, Mike Lee spoke about Fannie Mae and Freddie Mac and private / public partnerships. 

 

Auditing the Fed

In a primary debate, Mike Lee spoke about the need to audit the Fed.

 

Campaign Website Statements

 

 

Sponsored and Cosponsored Legislation

Session-112; Bill Number-S 18; Small Business Paperwork Mandate Elimination Act - Cosponsor

Amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more. Rescinds $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.

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