Housing has led our nation's economic expansion over the past few years, accounting for 16 percent of our Gross Domestic Product. New housing starts and home sales hit record levels from 2003 through 2005.

In addition to a soaring stock market, 6.6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years.

More Americans own their home than ever before. Nearly 70 percent of American's are homeowners. So it is a good time for us to asses the positive impacts of homeownership on families, communities and on the nation's economy.

When regulations on the housing industry are reasonable, the cost of housing goes down. Regulatory relief is needed to make housing more affordable to more Americans.

At a time when we are dealing with unpredictable suppliers of energy abroad and higher gas costs at home, the decision to increase domestic energy exploration is integral to a balanced, common sense energy policy.

However, as our brave men and women continue to return from the battlefields of the War on Terror, Congress must respond by enacting policies that meet the evolving needs of the veterans community.

The Pledge of Allegiance reflects the truth that faith in God has played a significant role in America since the days of the founding of our country.