Today our office enjoyed the honor of hosting a very special guest, Congressman Scott Garrett (R-NJ). The US Representative Garrett is many significant committees dealing with the fiscal posture of the US. Congressman Garrett is the Vice Chairman of the House Budget Committee as well as the Chairman of the Budget and Spending Task force for the Republican Study Committee. Leadership roles in many different committees, adds to his experience in solving fiscal policy issues. His talk at
the TAA headquarters has turned another dimensionof TAA’s Congressional Talk Series which aims to invite the Members of the US Congress to here in order to speak to Turkic American Community and community at large.
During his short speech, Congressman Garrett mentioned issues pertaining to current problems within the structure of the economic policy. He mentioned that our current administration has previously established two different committees to better current economic problems. Unfortunately, according to the Congressman, these past attempts have not been successful due to the lack of application of rules and regulations. Currently a third committee has been formed to yet again to develop better conditions but the application has yet to start.
In accordance with the current unbalancing economic policy, the Congressman and his committee formed a budget plan. Their budget plan was formed to balance in 10 years, unlike that of the Ryan plan which does not balance at any point. Unfortunately the plan did not pass in Congress due to a lack of votes both by Republicans and Democrats.
After the recent economic recession acquiring credit from banks and other agencies has been significantly harder to obtain. The Dodd Frank bill that passed in 2010 was implemented to tighten up banks in order to secure a stable economic atmosphere by requiring more qualifications. The Congressman stated that currently they are focused on changing this current fixture and enabling more individuals to obtain loans in order to generate a higher rate of cash flow.
Unfortunately the Congressman had to return to a committee meeting soon after and was forced to cut his speech short. After a couple of questions TAA President Dr. Faruk Taban showed his gratitude for the visit by offering a small gift to Congressman Scott Garrett.