This afternoon, President Obama said if Majority Leader Cantor has ideas about how to get the economy growing he would be ”happy to look” at them. House Republicans put forth a jobs plan that focuses on pro-growth solutions four months ago. Additionally, the House is focused on removing the top ten regulations standing in the way of job growth. As Leader Cantor has said, if President Obama is interested in looking at areas of commonality rather than playing politics, Republicans stand ready to work with him.
- Stephanopoulos: As you might have heard, in the last hour, the Republican leader in the House, Eric Cantor, said he's not going to schedule a clean bill. This all-or-nothing approach, he said, is unreasonable.
- President Obama: “Well, look, what he needs to do is to tell us what exactly he's for ... if he’s got other ideas, we’re happy to look at those other ideas, but what I think the American people cannot abide by is us doing nothing.” (ABC News/Yahoo Interview, 10/3/11)
Below is a summary of The House Republican Plan For America’s Job Creators. The full GOP Plan can be found in full HERE
- Require congressional review and approval of any government regulations that have a significant impact on the economy or burden small businesses.
- Audit existing and pending regulations to identify and address those that hinder economic growth.
Fix the Tax Code to Help Job Creators:
- Increase American competitiveness to spur investment and create more American jobs by streamlining the tax code and lowering the tax rate for businesses and individuals including small business owners to no more than 25%.
- Reform the tax code to allow American businesses to bring back their overseas profits without having to pay a tax penalty so they can invest in our economy and create American jobs.
Increase Competitiveness for American Manufacturers:
- Pass the three pending free trade agreements with Colombia, Panama, and South Korea to create up to 250,000 jobs.
- Continue to open new markets to American made products.
Encourage Entrepreneurship and Growth:
- Modernize our patent system to protect our nation’s innovators, discourage frivolous lawsuits, and expedite patent reviews.
- Re-Authorize and improve federal programs and approval processes to streamline development of new products. Remove barriers to building a first class workforce so that the United States can compete in the global marketplace and lead the way in technological development and growth.
Maximize Domestic Energy Production to Ensure an Energy Policy for the 21st Century:
- Promote lower energy prices through increased domestic production. Encourage all forms of energy production.
Pay Down America's Unsustainable Debt Burden and Start Living Within our Means:
- Build upon the House Republicans’ Budget by enacting significant spending cuts.