Following yesterday’s election, Governor McDonnell called Republican gains in Virginia a “repudiation of many of the president’s policies,” and “validation of our problem solving, pro-job, pro-economic development policies here.” In Virginia, and across the country, people are asking their elected leaders to focus on policies that will spur economic growth. Meanwhile, the Obama Administration continues to call for more spending and more taxes, even a new tax on Christmas trees. In contrast, House Republicans know we need to get this economy going and are focused on pro-growth bipartisan policies that will boost private sector job creation and economic growth.
Today In History: In 2001, the 3,400-seat Kodak Theatre, which was designed as the permanent home of the Academy Awards, opens in Hollywood. The Oscars were held at the Kodak Theatre for the first time on March 24, 2002.
Birthdays: Rep Scott Tipton, Tom Fogerty, Chris Jericho, Lou Ferrigno, Scottie Thompson and Adam Dunn
Here is what’s in today’s Ledger ...
State Of Play: House Republicans Continue To Call On Senate Democrats To Vote On The 22 House-Passed Bipartisan Jobs Bills
The Republican-Led House Continues To Act On Bipartisan Legislation That Fosters Small Business Growth & Job Creation. When Will The Democrat-Controlled Senate Start Holding Votes? Washington is taking creative actions to build a better marketplace and a stronger economy. The House voted to pass four pieces of legislation designed to facilitate small business capital formation and job creation. These bipartisan bills update decades-old regulations and could potentially open the $1.5 trillion private markets for investment in a way that could drive job creation in America. ... To encourage capital formation and job creation, small companies need to be supported by federal policies that make capital available and foster their success. The four pieces of legislation passed by the House of Representatives this week would provide powerful incentives to capital formation, if they are enacted into law. All four bills have the support of the Obama Administration, and they all featured bipartisan support and overwhelmingly favorable votes on final passage in the House of Representatives. ... Representative David Schweikert’s (AZ) Small Company Capital Formation Act ... Representatives James Himes’ (CT) H.R. 1965 ... Representative Kevin McCarthy (CA) successfully offered the Access to Capital for Job Creators Act ... Representative Patrick McHenry’s (NC) Entrepreneur Access to Capital Act ... Swift action will aid our battered economy and provide jobs for unemployed Americans ... the U.S. Senate to approve all of the pending legislation in order to advance the cause of capital formation for private companies. Forbes
• Speaker Boehner, 132 Economists Call On Senate Democrats To Take Action On The House-Passed Bipartisan Jobs Bills. Speaker John Boehner released a list today of 132 economists who say the House GOP plan to boost private-sector employment is a better option than President Obama's plan. ... The Boehner list is a retort to Obama's call to have independent analysts compare the GOP plan with his. Those surveyed by Boehner include economists from Stanford University's Hoover Institution, Carnegie Mellon University, American Enterprise Institute and the Manhattan Institute -- fairly conservative institutions. Boehner said the economists' support for the GOP plan is further proof that Obama needs to engage Republicans. "All 22 of these bills passed the House with bipartisan support, but to date have not been brought to a vote by Senate Democrats," Boehner said. " To help support job creation in both the short-term and long-term, we need bipartisan action to halt unnecessary government regulations and fix the tax code to help private-sector job creators. Our plan does that. The Senate needs to pass these 22 bills and send them to the president's desk." USA Today
Track The Progress Of The House-Passed Bipartisan Jobs Bills HERE
State Of Play (2): Don’t Be Fooled – The Latest Obama Executive Order To Cut Waste Should Have Already Happened Months Ago
Today: President Obama Will Sign An Executive Order Calling For The Elimination Of Waste. This morning, the president will sign an executive order directing agencies to reduce spending on travel; limit the number of technology devices that can be issued to employees; stop unnecessarily printing of documents; shrink the executive fleet of the federal government; and stop using taxpayer dollars to buy plaques, clothing, and other unnecessary promotional items. ABC News
• FLASHBACK - June 2011: Does President Obama Find His Administration’s Fiscal Inefficiency Offensive? According to a draft of the order obtained by The Associated Press, Obama will call for a new oversight board to work with federal agencies to cut back on waste and improve their performance. The order also requires cabinet secretaries to hold regular meetings with Vice President Joe Biden to report progress. ... budget director Jacob Lew said wasting taxpayer dollars through inefficiency "is particularly offensive at a time of such fiscal challenges." The Huffington Post
The Road Ahead: Americans Continue To Reject President Obama’s Failed Economic Agenda
President Obama’s Approval Rating Remains At Near Lows On The Economy and The Budget Deficit. At the same time, majorities disapprove of his handling of several fiscal-related matters, including the federal budget deficit, the economy, creating jobs, and healthcare. ... The 30% of Americans now approving of Obama's job performance on the economy is the second-lowest such rating of his presidency, up just slightly from the 26% recorded in August. Obama is also near his term-low approval rating on the federal budget deficit. The current 26% rating is in the generally low range seen since the start of the year, after falling sharply during the first year of his presidency. Gallup
• Meanwhile The Obama Administration Unveils Another Onerous Job Destroying Regulation. The Obama Administration announced Tuesday its intention to regulate CO2 emissions from power plants for the first time. The new rule, nimbly titled “Greenhouse Gas New Source Performance Standard for Electric Utility Steam Generating Units,” would allow the Environmental Protection Agency to create emissions standards for new power plants. ... the White House and the EPA have delayed proposing new regulations, under intense pressure from Republican lawmakers, who have tagged the agency as a source of "job-killing regulation."... It is likely that the appearance of the rule in the White House agenda will only intensify the political slugfest over the regulation of greenhouse gases. When the EPA first announced that curtailing these gases would fall under its purview, the business community erupted in a fury that continues today. ... Charlotte Baker, press secretary for the House Committee on Energy and Commerce, stated, “The committee plans to review the rules recently submitted to OMB and remains focused on finding ways to promote common-sense regulations that will protect our environment without destroying jobs or driving up electricity prices for families and job creators." The Los Angeles Times
Leader Cantor: President Obama & Secretary Salazar Should Reconsider Including Virginia In Their Proposed Offshore Energy Exploration Plan. “Offshore energy exploration and development in the commonwealth has bipartisan support and would help put Virginians back to work, generate millions of dollars in revenue, and reduce our dependence on foreign oil,” Cantor wrote. “I strongly encourage President Obama and Secretary Salazar to reconsider including Virginia in the proposed five-year plan so we can move forward with offshore drilling in a safe and responsible way that will utilize American technology, innovation and create jobs.” The Fredericksburg Freelance Star
ObamaCare: Flawed Policy, Flawed Law - The law already is increasing costs for workers and taxpayers. Millions of people will lose the coverage they have now. Its massive new entitlement spending will blow apart any efforts to trim the federal deficit. And states are rebelling against implementing its coverage expansions. The failure of the law's long-term care program—the Community Living Assistance Services and Support Act, or Class Act—is a precursor of the demise of ObamaCare. The administration pulled the plug on implementing the Class Act in an acknowledgment that it couldn't make it work without mandating that everyone purchase the coverage and with employers compelled to collect premiums. Republicans should be doing everything they can to explain their proposals: a better set of incentives that will encourage—not require—people to purchase health insurance by offering targeted assistance and creating a broader, more competitive marketplace where consumers can purchase affordable, portable health insurance of their choice. The Wall Street Journal
Wisconsin Small Business Leaders Call For Tax Reform, Say It Will Create An Environment For Expansion and Hiring. “We don’t have offshore divisions to hide money,” Terry Welch, president of Prime Coatings said. “It’s discouraging to pay federal corporate taxes and then add state, local and fees onto that. Now I’m paying 50 to 60 percent to the government. It is really hard to grow when you only have 40 to 35 percent of your money.” Sensenbrenner said tax reform is a big issue for the U.S. House, but believes a standalone bill addressing it would never see the light of day in the Senate. Instead, he would like to see corporate tax rates more in line with the rest of the world, which could make U.S. companies bring those hidden dollars home to invest in jobs and workers. ... Gary Laev, of Electrical-Mechanical Drives in Grafton, summed up the feelings of his colleagues gathered around the table. “If I could speak to (President) Obama for 30 seconds I would tell him to lower my taxes so I have more money to hire workers," he said. "When you take more money from me, I have less to put in someone else’s pocket.” The Port Washington – Saukville Patch