Part II Solutions For America By Republicans

In a letter to Barack Hussein Obama in December, 2009 the Republican leaders sent Obama a letter.  In this letter they said, “The truth of the matter is that small business, not government, is the engine of job creation in America. … Yet instead of receiving relief from Washington, small businesses have watched with anxiety as their government has devoted its attention to enactment of a job-threatening government takeover of health care, a job-threatening ‘cap and trade’ national energy tax, and other policies that discourage job creation.”

The CEO of a steelmaker recently told the Wall Street Journal “Companies large and small are saying, "I am not going to do anything until these things – health care, climate legislation – go away or are resolved."

Therefore Congress and the Administration should:

1.   Halt Any Proposed Rule or Regulation Expected to Have an Economic Cost, Result in Job Loss, or Have a Disparate Impact on Small Businesses:

2.   The President should issue an immediate Executive Order halting any proposed regulations expected to impose any net costs on the economy in either the near or long-term or that negatively impact small businesses or result in a net loss of jobs. Such rules should be rewritten to fully mitigate any negative economic impact.

3.   Eliminate Job Killing Federal Tax Increases.

Restore Confidence in America’s Economic Future: 

1.   Record deficits and debts and the seeming lack of commitment on the part of policymakers to restrain federal spending has caused many to conclude that the federal government is likely to address its deficit problems by either raising taxes or inflating the dollar.

2.   Demonstrate a Commitment to Lowering the Deficit Now Without Raising Taxes By Freezing Domestic Discretionary Spending at Last Year’s Level.

Assist Community Banks and Small Businesses:

1.   The downturn in the commercial real estate market is impacting not just businesses that must roll over their loans, but also community and regional banks that have a significant exposure in commercial real estate.

2.   The after-tax costs of properties could be lowered by reducing the depreciation schedule for property from 39½ years to 20 years or less.

3.   Bank regulators should act to improve transparency and ensure flexibility in underwriting and appraisal standards so as to ensure that financing is available for those properties with the promise of generating revenue.

Reform the Unemployment System to Help the Jobless and Small Businesses Alike:

1.   Reform the Unemployment System to Help Those Out of Work Find Jobs and Lower Federal Payroll  Taxes to Assist in Hiring: 

2.   Federal unemployment insurance recipients who are most likely to exhaust benefits should be expected to engage in education, training, or enhanced job search as a condition of eligibility. 

3.   The Federal government could help offset part of the cost of state payroll tax increases by immediately suspending the Federal unemployment tax, saving employers $56 per worker per year.

The “cost” of this tax suspension is $7 billion a year and could be offset through reduction in improper government payments, which according to the Administration totaled $98 billion last year – an increase of $26 billion over the previous year.

Reduce Regulatory and Tax Barriers to Domestic Job Creation: 

1.   Remove Unnecessary Barriers to Domestic Energy Production: ü Increased domestic energy production from all sources (including oil, natural gas, oil shale, nuclear, and renewable) has the potential to lower energy costs, reduce our reliance on foreign oil, and create new jobs. 

2.   The Administration and Congress should act to remove the regulatory barriers to energy production and streamline the existing permitting process. • Provide an Incentive for Companies to Repatriate Earnings Back to the United States

Expand U.S. Export Jobs:
 
1.   Recently President Obama said that increasing U.S. exports by just 1% would create over 250,000 jobs. The independent International Trade Commission has estimated that implementation of the three pending free trade agreements would increase U.S. exports by more than 1%. By failing to act on just the three pending agreements the Congress and the President are preventing the creation of hundreds of thousands of good-paying jobs. Therefore: • President Obama should submit – and the Congress should quickly approve – these job creating trade agreements.

These are options to help reduce unemployment.  Obama and the Democrats have done nothing in 16 months to reduce unemployment.  Their actions have helped keep America’s economy depressed.  The main stream media won’t report on the Republicans ideas and proposals.  We will!!!

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