It is a bit ironic that President Obama's new catch phrase is “we can’t wait,” but he is spending the day campaigning through California and making an appearance with Jay Leno on The Tonight Show. House Republicans agree that we can’t wait and we aren’t waiting - we are acting. Leader Cantor has said for months that we shouldn't let disagreements - like Democrats’ insistence on raising taxes - get in the way of moving forward on areas of agreement that can help create jobs immediately. This week, one of those areas of agreement will pass the House: we will repeal the 3 percent withholding rule, which was included in the President's jobs plan and adds unnecessary costs to businesses and hinders growth. On top of that, the House has already sent 15 bipartisan jobs bills that are "waiting" in the Senate. Perhaps the President should make sure Harry Reid knows "we can't wait" especially while millions of people are struggling and out of work.
Today In History: In 1774, the First Continental Congress sends a respectful petition to King George III to inform his majesty that if it had not been for the acts of oppression forced upon the colonies by the British Parliament, the American people would be standing behind British rule. The king did not respond to the petition to Congress’ satisfaction and eight months later on July 6, 1775, the Second Continental Congress adopted a resolution entitled "Declaration of the Causes and Necessity of Taking Up Arms."
Birthdays: Katy Perry, Bobby Knight, Pablo Picasso, Sarah Thompson and J.A. Adande
Here is what’s in today’s Ledger ...
State Of Play: House Republicans Set To Act On One Area Of Agreement With President Obama
House Republicans Prepare To Act On A Portion Of President Obama’s Bill. Reporting from Washington— The Republican-led House this week takes up the one element of President Obama's jobs proposal that has bipartisan support in Congress — deferring a 3% tax on companies contracting with the government — but is likely to vote to repeal the levy altogether. The provision may not lend itself to easy campaign slogans. But targeting the 3% withholding rule, which is scheduled to take effect Jan. 1, 2013, is one bit of Obama's $447-billion jobs package that Republicans have embraced. ... Companies argue that their profit margins are often so small that letting the federal government take a 3% cut from payments would hurt their bottom line. The Los Angeles Times
State Of Play (2): House Republicans Push Senate Democrats To Address Small Business Owners Greatest Concern – Burdensome Regulations
Small Business Owners Say Compliance With Over Burdensome Government Regulations Are Their Primary Concern. Small-business owners in the United States are most likely to say complying with government regulations (22%) is the most important problem facing them today ... Small-business owners' assertion that government regulations are the most important problem facing them today is consistent with another recent Gallup poll (Oct. 6-9) in which 14% of Americans volunteered that reduced government regulation is the best way to create jobs in the U.S. ... small-business owners seem to feel government regulations are making their difficult operating environment even more challenging. The magnitude of the challenges facing small-business owners is reflected by the one-third who are worried that they may go out of business or not have enough money to pay their employees in 2012. Small-business owners tend to be agile and demonstrate they can adjust to the business cycle as needed to survive. Gallup
We Can’t Wait: House GOP Presses Senate Democrats On The Forgotten 15, Calls On Harry Reid To Take Action. House Republican leaders are arming their troops this morning with palm cards that list their 'forgotten 15' House-passed bills that are languishing on the Senate doorstep. It's their response to President Obama's new jobs-program slogan 'We can't wait.' And some rank-and-file Republicans, including Rep. Glenn Thompson of Pennsylvania, already have taken to repeating the 'forgotten 15' mantra. 'Right now, 15 different House-passed jobs bills - each reduce the red tape that is hindering small business and each remove obstacles to domestic energy production - are stuck in the Senate awaiting action from the Democrat leadership,' Thompson said on the House floor yesterday. 'Mr. Speaker, the President is right - 'We Can't Wait.' ... It's time for President Obama and Senate Democrats to put aside politics and work with the House on these common sense ideas. We simply can't wait.' The Huddle
Rep. Sandy Adams Hears From Small Business Leaders On Regulatory Burdens, Calls On Senate Democrats To Act On The Forgotten 15. Donn Mount, co-owner of HM2 Mechanical and Specialty Contractors in Titusville, said his eight-employee company is trying to diversify after cuts at Kennedy Space Center reduced his business volume. He said the government “needs to get out of the way” so businesses can expand without unneeded regulation. During her presentation to constituents, Adams cited a number of bills the House of Representatives has approved to spur job creation, on topics that included energy, government regulation and trade. She urged attendees to contact their U.S. senators and tell them to consider the ones that have not yet been voted on by the Senate. ... Adams said the economy may look pretty good within the Washington Beltway, but she often tells government insiders: “If you want to see the real world, come out to my district.” Florida Today
The Road Ahead: President Obama Should Join Republican Efforts To Create A Pro-Growth Environment
Why A Pro-Growth Agenda Is Needed - Employment Outlook Falls To Lowest Level Since January 2010. The Main Reason U.S. companies’ hiring plans reflect the worst employment outlook since January 2010 as demand slows in the world’s largest economy, a private survey showed. Fewer companies project payrolls to rise in the next six months compared with a July survey, while more plan to cut workers, the National Association for Business Economics said today in Washington. Bloomberg
Consumer Confidence Falls To Its Lowest Level Since March 2009. Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October as consumers fretted about job and income prospects. In other data on Tuesday, U.S. home prices were unchanged in August, pointing to a market that continued to stabilize but has yet to gain traction. The Conference Board, an industry group, said its index of consumer attitudes fell to 39.8 from a upwardly revised 46.4 the month before. It was the lowest level since March 2009. Reuters
Education and Workforce Committee: Chairman Kline - The NLRB Cannot Simply Run Roughshod Over The Rights Of Workers and Employers. House Republicans are again moving forward with legislation to limit the power of the National Labor Relations Board (NLRB). On Wednesday, the House Education and the Workforce Committee is scheduled to mark up legislation sponsored by its chairman, Rep. John Kline (R-Minn.). The bill, known as the Workforce Democracy and Fairness Act, would negate several of the labor board’s actions this year, including a proposed regulation to speed up union elections. The NLRB has come under heavy scrutiny this year from the GOP-controlled House and several business groups for what they argue is favoritism to unions. “Congress cannot allow an activist NLRB to trample on the rights of workers and employers. The Workforce Democracy and Fairness Act is desperately needed to rein in the Obama board and reaffirm workforce protections that have been in place for decades,” Kline said in a statement. ... The committee will likely pass Kline’s bill Wednesday, setting up a full House vote for later this year. The NLRB’s proposed union election rule has been identified as one of the Obama administration’s 10 most harmful regulations by House Majority Leader Eric Cantor (R-Va.). The Hill
House Democrats Blast President Obama’s Housing Plan – “They’re Still Not Getting It.” Just hours after the Obama administration unveiled enhancements to its anti-foreclosure efforts, House Democrats are already saying it doesn’t go nearly far enough to help the millions of homeowners still struggling from the housing bust. “It’s far too little, it’s just baby steps,” Rep. Dennis Cardoza (D-Calif.), a longtime critic of the administration's housing policies, said in a phone interview. “They're still not getting it.” ... Rep. Lois Capps, another California Democrat critical of the administration's foreclosure-prevention efforts, echoed that concern Monday, saying “much more is needed” to stabilize the struggling housing market. The Hill