Yesterday, Leader Cantor again made clear that Republicans will not raise taxes saying, “The current unemployment rate is 9.2 percent. That is the official rate. I have said before, almost consistently every week, it is counterintuitive to think that you impose taxes on people and businesses right now if you want to get Americans back to work.” Yet despite his previous statement that "you don't raise taxes in a recession," President Obama and his party continue to demand trillions in new taxes on small businesses and working families. House Republicans will not agree to raise taxes on the American people and small businesses now, or down the road. President Obama has finally agreed that there is a debt crisis in large part because of the growth of our entitlement programs, but we don't need to increase taxes in a weak economy to start to fix them.
Today In History: In 1957, Dwight D. Eisenhower became the first president to ride in the newest advance in aviation technology: the helicopter. Eisenhower suggested the idea to the Secret Service, which approved of the new mode of transportation, seeing it as safer and more efficient than the traditional limousine motorcade.
Birthdays: Bill Cosby, Christine McVie, Richard Simmons, Topher Grace, and Milton Berle
Here is what’s in today’s Ledger ...
State of Play: House Republicans Will Not Agree To Raise Taxes On Working Families and Small Businesses
Leader Cantor: We Are Not Asking The President To Violate His Pledges To The American People, He Should Not Ask Us To Violate Ours. House Majority Leader Eric Cantor (R., Va.) today reiterated his party’s opposition to tax increases in a deal to raise the debt ceiling, arguing it would constitute a violation of the “Pledge to America” that Republicans successfully ran on to win control of the House in 2010. “Our members did not come here to raise taxes,” Cantor said. “We’re not asking the president to violate his pledges to the American people, and we wish he wouldn’t ask us to do so.” Cantor said that while he appreciates President Obama’s willingness to address entitlement spending in the ongoing negotiations, the Democrats’ demand for roughly $1 trillion in tax increases was simply unacceptable and would never get the votes to pass the House. National Review Online
Chairman Ryan: Raising Taxes On Small Business People Will Only Make The Nation’s Unemployment and Economic Situation Worse. The Republican chairman of the House Budget Committee says his party is vehemently opposed to tax increases because U.S. businesses have been put at a disadvantage with their foreign competitors. Wisconsin's Rep. Paul Ryan tells CBS's "The Early Show" that "we are already taxing our job creators and our businesses more than our foreign competitors are taxing theirs." The Associated Press
Rep. Kevin Yoder: President Obama Is Simply Trying To Raise Taxes Anyway He Can. Rep. Kevin Yoder (R), a freshman from Kansas, said that Obama’s suggested tax increases seemed designed to lure Republicans into reneging on a signature promise. “What we’re seeing here is an attempt by the president to find the most politically palatable tax increases he can dream up, [seeking] a way to find a seam or a hole” in Republicans’ resolve, Yoder said. “Cantor’s just being very clear that we are not going to get drawn into any negotiation,” Yoder said. The Washington Post
Senate Dems Release Budget Details, Plan To Raise Taxes By At Least $2 Trillion. He didn't release an actual budget outline, as he is obliged to do under the law but which he hasn't done in two years. Instead he trickled out enough details to assess his rough priorities. Of the $4 trillion in alleged deficit reduction over 10 years, about half would be from tax increases ... The Conrad budget is based off what he has called "a plausible baseline," which assumes the expiration of the 2003 tax rates at the end of 2012 as now scheduled. This would mean, says ranking budget Republican Jeff Sessions, closer to a $2.8 trillion tax increase, not $2 trillion. We can't say for sure, because Mr. Conrad won't show the public his numbers. ... We doubt Mr. Conrad's plan will even make it to the Senate floor, because Democrats running for re-election are terrified they'd have to vote for it. But if their plan is so desirable, if it's time to eat our peas, why not eat them in public and on the record? The Wall Street Journal
The Obama Economy: President Obama’s Economic Policies Have Failed To Instill Confidence
The Majority Of Small Businesses Say Economy Is On The Wrong Track. A majority of U.S. small businesses fear the economy is on the “wrong track” and do not plan to increase hiring in the coming year, according to a new survey from the U.S. Chamber of Commerce Monday. “In other recoveries, growth came roaring back and so did jobs,” U.S. Chamber of Commerce President Tom Donohue told business leaders at a jobs summit the Washington-based group held on Monday. “But that’s not happening this time.” The study found that 64 percent of small businesses are afraid to make new hires in the near future, although only 12 percent plan to cut jobs. ... The biggest obstacles to job growth are uncertainty about the economy, uncertainty about the policies and regulations being pushed in Washington, and a lack of sales, according to the survey. ”The voices of these Main Street businesses are telling us plain and simple: To start hiring, we need faster economic growth and a change of course in Washington,” Mr. Donohue said. The Washington Times
Pessimism Among Small Business Owners Continues To Rise. Small-business owner pessimism worsened again in June although there was some improvement in the labor picture, according to data released Tuesday. The National Federation of Independent Business‘s small-business optimism index slipped 0.1 point to 90.8 last month. The NFIB said the index, which has been trending lower since March, is “still firmly rooted in recession territory.” The Wall Street Journal
No Improvement In Economic Confidence, 45% Of Americans Rate Economic Conditions As Poor. Americans' economic confidence remains near its 2011 low, averaging -34 in the week ending July 10. Gallup's Economic Confidence Index has not shown any improvement in the last five weeks after a decline in early June. Last year at this time, the Index was -36, suggesting there has been no year-over-year improvement. ... Forty-five percent of Americans rated current economic conditions "poor" in the week ending July 10 -- about the same as in the previous five weeks. This roughly parallels the deteriorated situation of early July 2010. Gallup
Getting To Know The Freshmen
Jeff Duncan: Rep. Jeff Duncan represents the 3rd Congressional District of South Carolina which spans ten counties in the western portion of the Palmetto State. The Third District is anchored by nuclear power on both ends with the Oconee Nuclear Station to the north and the Savannah River Site to the south. Jeff is married to his high school sweetheart, Melody Hodges Duncan and together they have three boys. Prior to serving in Congress Jeff was the owner of a real estate and auction firm and served in the South Carolina General Assembly where he was Chairman of the House Agriculture, Natural Resources, and Environmental Affairs Committee. Jeff is an avid outdoorsmen and college football enthusiast. Little known facts: As a trained auctioneer; Jeff can in fact talk really, really fast. Jeff also played football at Clemson University under Coach Danny Ford.
Off The Beaten Path
Oops – Google Map Mistakenly Identifies Homeowners Driveway As State Park Entrance – The Star-Ledger
Traveling Salesman Racks Up 10 Million Frequent Flyer Miles – The Daily Mail