Dear Friend,
I hope this newsletter finds you and your family well!
Social Security is vitally important to virtually every single American, from the over 65 million Americans who receive a monthly Social Security benefit, to the roughly 180 million taxpayers who contribute a portion of their paychecks to fund the program. We have a responsibility to protect this program for both current and future beneficiaries. As Chairman of the Social Security Subcommittee, I fully understand that Americans expect and deserve bipartisan efforts to address Social Security and ensure it works for today’s workers, seniors, and their families – as well as future retirees. The Social Security Subcommittee has already held a hearing this year to lay out the facts on the financial status of the Trust Fund – which was an important first step in a process to address both the short- and long-term solvency of these critical programs.
We must ensure that every single dollar the Social Security Administration (SSA) is allocated is maximized. Over the past decade, the Social Security Administration has spent over $16 billion on information technology (IT) and cybersecurity and has budgeted an additional $2.1 billion for IT in fiscal year 2023. The need for these systems to maintain operations and stay up to date is not only critical for Social Security beneficiaries, but for every worker and business in America
Today, I sent a letter to Comptroller General Gene Dodaro, head of the U.S. Government Accountability Office (GAO), requesting a review on how the SSA manages and oversees billions of dollars in IT investments. The letter follows an audit report of the SSA released on July 21, 2023, by the Office of the Inspector General (OIG) that determined there is a lack of monitoring nation-wide data on automation enhancements.
Click HERE to read more.
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On Wednesday, the House Ways and Means Tax Subcommittee held a hearing titled, “Biden's Global Tax Surrender Harms American Workers and Our Economy." The focus of this hearing was to discuss the botched global tax negotiations of the Biden Administration that will destroy American jobs and reduce economic growth and tax revenues. This Administration continues to cut deals with foreign nations that make America less competitive.
Tax policies coming out of Washington are solely under the jurisdiction of the House Ways and Means Committee, not unelected bureaucrats in the Biden Administration. However, once again, this Administration has bypassed the Constitutional process of consulting Congress and is working to strike deals unilaterally with foreign nations. The deal they cut with the Organization for Economic Co-operation and Development (OCED) would allow foreign nations to tax United States corporations on revenue earned outside of their borders and impose a 15% global minimum tax rate on multinational corporations. This would target our domestic companies with higher taxes and destroy American jobs.
America remains the best place in the world to invest, innovate, and do business. There is no reason we should be sending American tax dollars to foreign nations. This would erode our competitive advantage by leveling the playing field with nations that do not share our values. Americans today care about providing for their families, having a safe place to live, giving their kids a quality education, and having the freedom to live how they want to in our great nation. Simply put, we should be keeping American tax dollars at home.
During the hearing, I asked the witness why the Biden Administration thinks it's okay to unconstitutionally make international tax deals without consulting Congress.
Click HERE to watch my remarks. |
Following my first question, I asked the witness whether it was appropriate to allow a state or country to collect taxes on income earned outside of its borders.
Click HERE to watch my remarks. |
My last questions to the witnesses focused on why this Administration would allow foreign nations to tax U.S. corporations and how it would impact the U.S. economy.
Click HERE to watch my remarks. |
As a co-chair of the Creative Rights Caucus, I enjoyed speaking at an event last week with actors and producers of the movie "A Man Called Otto." I spoke about the value of protecting intellectual properties (IP) in the film industry and the need for continued advocacy in the creative industries.
Below are a few pictures from the Creative Rights Caucus event: |
It was great to visit with Upson County constituents Peggy Green, her husband, and granddaughter during their trip to Washington, DC! Thanks for stopping in and I hope you enjoyed the Capital tour!
Below are a few pictures from their visit: |
I had the pleasure of welcoming my friend and former House Ways and Means Chairman Kevin Brady to my office. Chairman Brady authored the historic Tax Cuts and Jobs Act, and it was great to catch-up and discuss tax policy with him last week. |
Last Wednesday, I met with Bo Burdette, the President and CEO of MGroup headquartered in LaGrange, GA. |
This week, the House will consider the following pieces of legislation on the floor:
H.R. 3203 – Stop Chinese Fentanyl
H.R. 1684 – Haiti Criminal Collusion Transparency
H.R. 1176 – Taiwan Int’l Solidarity Act
H.R. 3395 – U.S. Supply Chain Security Review Act of 2023
H.R. 3399 – Soo Locks Security and Economic Reporting Act of 2023
H.R. 682 – Launch Communications Act
H.R. 1338 – Satellite and Telecommunications Streamlining Act
H.R. 1345 – NTIA Policy and Cybersecurity Coordination Act
H.R. 2544 – Securing the U.S. Organ Procurement and Transplantation Network Act
H.R. 752 – Securing Semiconductor Supply Chains Act of 2023
H.R. 1501 – UAS Act
H.R. 3254 – First Responder Access to Innovative Technologies Act
H.R. 4470 – Protecting and Securing Chemical Facilities from Terrorist Attacks Act of 2023
H.R. 4366 – Making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2024, and for other purposes
H.R. 4368 – Making appropriations for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies programs for the fiscal year ending September 30, 2024, and for other purposes
S. J. Res. 9 – A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to "Endangered and Threatened Wildlife and Plants; Lesser Prairie-Chicken; Threatened Status with Section 4(d) Rule for the Northern Distinct Population Segment and Endangered Status for the Southern Distinct Population Segment"
S. J. Res. 24 – A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to "Endangered and Threatened Wildlife and Plants; Endangered Species Status for Northern Long-Eared Bat"
As always, I’m here to serve you. Please contact my office with any questions, comments, or concerns. Be sure to follow me on Facebook, Twitter, and YouTube to keep track of upcoming legislation and events! |
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Sincerely,
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Drew Ferguson
Member of Congress
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