He introduced his own stimulus plan-The Economic Recovery and Middle-Class Tax Relief Act-which would amend the Internal Revenue Code of 1986 to offer permanent tax incentives for economic growth.

"This bill is a commonsense approach to protecting and preserving American jobs," Garrett said when he introduced the package. "History has shown that the most effective way to reinvigorate the economy and spur economic growth is to ensure that job creators face a lower tax and regulatory burden." His plan calls for a number of tax cuts, including a reduction of the corporate income tax rate to 25% and the alternative capital gains rate for corporations to 15 percent.

The proposal, developed in conjunction with the Republican Study Committee, was referred to the House Appropriations Committee in January, and has not moved along the legislative process since then.

Garrett challenged Obama's economic policy again when he contributed to a proposal for market regulation reform developed along with other congressional Republicans. The conflict between the plans cuts predictably across the party divide.

"It's time to reject the 'too big to fail' logic that has resulted in unprecedented government intrusion into the marketplace and reinstate the free market principles that are the cornerstone of our nation and a healthy financial sector," Garrett said in a statement upon the GOP package's release.

As the ranking Republican on the capital markets subcommittee, which oversees government-sponsored mortgage programs Fannie Mae and Freddie Mac., Garrett's voice has become integral to the economic dialogue. At a June 3, 2009 hearing, Garrett warned that the Obama administration's plans for market regulation would "essentially establish a dozen new Fannie and Freddies."

Arguing that the total bailout costs of these mortgage providers will continue to rise by the billions, Garrett instead favors covered bonds through which financial institutions could sell investors debt backed by a collateralized pool of mortgages.

"When you use mortgage companies for political purposes, such as helping low-income borrowers or expanding homeownership, you make bad economic decisions," Garrett said of the Obama administration's steps to rein in Fannie and Freddie for greater government control. "And bad economic decisions are why we're in this trouble right now."

But Financial Services committee chairman Barney Frank (D-Mass.) has called out Garrett and other Republicans on their calculations and conclusions about the outlook for these mortgage programs. "It is the most inflationary arithmetic I ever heard," Frank said of GOP characterizations of housing and economic recovery at a July 2008 hearing.

The Environment

Garrett ranks environmental issues among his top priorities, marked largely by his efforts to preserve green spaces within his district. A member of the Congressional Wildlife Refuge Caucus and the Land Conservation Caucus, Garrett has proposed legislation and requested funding to support animal refuge sites and parks programs.

But Garrett was also the only representative from New Jersey to support offshore drilling in his state. In 2006, Garrett helped the House approve President Bush's plan to lift a ban on drilling for gas and oil in 85 percent of America's coastal waters, including the Jersey shore. The moratorium had been renewed every year since 1982, but Congress voted 232-187 to allow drilling, with many citing rising gasoline prices. In 2008, President Bush lifted the ban using an executive order.

Environmental organizations spoke out against the decision, and Garrett's latest score from the nonpartisan environmental advocacy group, League of Conversation Voters, was 8 percent.

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