SPRINGFIELD - When the race to replace retiring U.S. Rep. Jerry Weller got under way this spring, top issues on the agenda included the war in Iraq and immigration. | INTERACTIVE VIDEO: Create your own 11th District debate | VIDEO: Should economic meltdown scare Flick? | Fate of Bush tax cuts key in 18th District
Pocketbook worries, however, quickly surpassed those issues to become the focal point among the candidates vying to represent Illinois' 11th Congressional District, which stretches from Chicago's south suburbs to Bloomington-Normal.
The candidates include Democrat Debbie Halvorson of Crete, who is majority leader in the state Senate; Republican political newcomer Martin Ozinga of Homer Glen, who runs a Chicago-area concrete business; and Green Party candidate Jason Wallace of Normal, a recent Illinois State University graduate.
Following is a look at some of their views on the economy and their visions for improving the nation's financial stability.
Debbie Halvorson
Halvorson would have voted against the $700 billion Wall Street bailout, primarily because she believes it did little to help people on Main Street stay in their homes.
In addition, she said it doesn't look like the bailout has had its intended effect.
"I knew we should not fall for this. There's no way you can buy confidence," said Halvorson, who serves as a top lieutenant to Senate President Emil Jones in Springfield.
Taking a page from her Green Party opponent, Halvorson says the government should make alternative energy a priority.
Taxpayers should get incentives to purchase flexible fuel vehicles and businesses should get incentives to create and use solar panels and wind power, she said.
Her plans would be paid for by capturing taxes now hidden in overseas bank accounts, ending the war in Iraq and eliminating tax breaks to companies that outsource jobs to other countries.
Halvorson also supports a plan to allow homeowners who do not itemize their tax returns to deduct their property taxes from their federal income taxes. She says the measure would benefit an estimated 40 percent of homeowners.
She also would double the child and dependent care tax credit for families that make up to $100,000.
She also supports making permanent the $1,000 per-child tax credit.
In the Illinois Senate, Halvorson has been in the middle of a meltdown in the state budget because of infighting among Democrats.
But, she puts the blame on the shoulders of legislative leaders and Gov. Rod Blagojevich.
"I'm proud of my record," Halvorson said.
Martin Ozinga
On one hand, Ozinga is a traditional small-government Republican.
"I have very little faith in government," Ozinga said.
On the other, the Homer Glen concrete magnate says he would have voted for the bailout of Wall Street if he'd been in Congress because it represented a "lifeline" to the well-being of the nation.
"It's something that needed to be done," Ozinga said.
Ozinga, 58, entered the race after New Lenox Mayor Tim Balderman stepped aside after winning a three-way GOP primary.
As owner of a business in Chicago's booming south suburbs, he says the housing slump and mortgage meltdown has had a direct impact on his business. He estimates one-half of his business is related to homebuilding.
"People were getting into homes that were way over their heads," Ozinga said. "We had completely lost our minds."
To counteract the slowdown, Ozinga said Congress should tighten lending rules in order to impose less risk taking.
"That's got to be put on hold," Ozinga said. "We need to get ourselves on solid financial footing."
Ozinga also believes Congress should approve tax changes that benefit businesses in order to spur business creation, which in turn creates jobs.
He supports changes to capital gains taxes, business depreciation taxes and Internal Revenue Service rules in order to help businesses create jobs. He backs legislation to lower income tax rates for individuals and businesses and would repeal the alternative minimum tax.
And, he said, Congress should not repeal the Bush tax cuts, but it should eliminate estate taxes so farmers and small-business owners can pass their savings and assets to their heirs.
Ozinga predicts it will take at least three years for the nation's economy to pull out of its recent tailspin.
"The economy is a mess. That's an understatement," Ozinga said.
Jason Wallace
Wallace says he would have voted against the bailout. Rather than give $700 million to Wall Street corporations, he'd rather the federal government give that money directly to people.
He also would freeze home foreclosures "so we're not kicking people out of their houses" and allow homeowners to renegotiate bad mortgages.
Wallace, an Iraq war veteran, wants to shore up the economy by promoting environmentally friendly job growth.
For example, he would push for the construction of a high-speed rail network that would provide jobs and reduce the number of cars on the roads.
He said a better passenger rail system could reduce the nation's thirst for foreign oil and cut the number of people flying between cities. Funding for his vision would come, in part, from cutting aid to airlines.
"It's a better alternative than paying subsidies to airlines," Wallace said.
Wallace would eliminate the Bush tax cuts, stop funding the war in Iraq and use the money to provide tax relief from middle-class Americans.
Wallace said reducing taxes, fees and bureaucratic burdens on small businesses could help spur job creation.
In addition, he wants to put more money into helping schools and universities build or improve their buildings so those institutions could spend their money on improving education.
Wallace also wants to start a program where people could give two years of service to the country in exchange for free college tuition.
Posted in News on Saturday, October 11, 2008 12:00 am Updated: 11:30 am.
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