Congressman Mike Thompson made a stop at the Napa Chamber to meet with local business leaders to discuss the state of the economy, the stimulus package, local flood control issues and more on Tuesday, February 17th.  On everyone’s mind was how the President’s plan would benefit both the State of California and the mainstream working class that make up the small business sector of Napa. “I think our district will see some real benefit,” said the Congressman. “I anticipate 8,000 jobs being created locally and that’s significant” he continued. Schools and the infrastructure will be the biggest winners, according to the allocations set forth in the package. However $286 billion in tax cuts, $70 billion in alternative minimum tax refunds, caps on capital gains for sales of small businesses and investment tax credits of $250,000 for capital purchases will all benefit businesses across the country, he explained. A one-time tax credit of $8,000 for first time home buyers was pared down from the original $15,000 but still would be a help to stimulate the housing market.

Congressman Thompson pointed out that he had been instrumental in forcing the issue of Corps of Engineer funding in the stimulus package, to the tune of $4.5 billion. As much as the Chamber would like to see those funds prioritized for the local Flood Control project, the Congressman emphasized the importance of repairing the Sacramento Delta levees. “Can you imagine the economic and social impact if those levees were to break,” he asked. “East Sacramento would be under ten feet of water, and millions of Californians would be left without drinking water.”

Healthcare seemed to be one bright spot in the Congressman’s vision for the future. He noted innovation and technology as being the key to more jobs and a common issue for both parties in Washington to rally around. When challenged with a comment about “both parties ignore each other” he bristled, stating “Not true! There was a lot of cross over during the last 8 years and that was without the encouragement of the White House. With this President, who is working hard for bipartisanship, it will only get better.”

The group peppered the Congressman with questions on a variety of topics including nationalized banking; deregulation vs. re-regulation; returning Veterans; growing government; shrinking resources; accountability; wine industry challenges; the auto industry bail outs; defense spending and corruption in Iraq; consumer confidence; the housing market; seniors; mortgages; predatory credit card companies; and finally, internet sales tax.

After one and a half hours the Congressman had covered a variety of subjects and was off to visit with others in his district.