Congressman Lazio Speaks to Long Island CPAs

By James L. Craig, Jr., CPA

Congressman Rick A. Lazio (R) spoke about the federal government's responsibility to "incentivize" risk takers and entrepreneurs to keep the economy moving before more than 300 Long Island CPAs and bankers at a joint meeting of the Nassau and Suffolk chapters on April 26. The United States leads the world in e-commerce--90% of the Internet's web pages are made in this country--and Lazio said he believes the government should keep that impetus going.

Lazio presented a number of ways to incentivize the economy. One was to revise the tax code to reward risk taking, research and development, and investment in new ventures. He stressed that the federal government must reduce debt to free capital for these purposes.

Because he perceives world economies as stagnant, Lazio said his goal for the United States is a system that creates growth independent from the rest of the world. He proposed a partnership with the private sector that fosters competition and collaboration and a regulatory environment that is conducive to the high-tech methods by which business is now conducted.

Lazio also stressed the need for increased investment in education. He said jobs are going unfilled because public education fails to properly develop the skills students need to take advantage of today's opportunities.

When asked about violence in public schools, Lazio said he favors greater parental supervision as a preventive measure.

"Parents and grandparents need to be more aware of what children are doing," he said.

With regard to Social Security, he recommended a second-level retirement system built upon individual
initiative.

Micki Levine and John Knox, past presidents of the Nassau and Suffolk chapters, respectively, were pleased with the turnout.

"It was a wonderful opportunity for our CPA members to socialize with Long Island bankers and to hear the views of a Long Island politician who has a great future," Knox said.