SAN DIEGO, CA - Today, House Majority Leader Eric Cantor (R-VA) will discuss the economy and pro-growth measures during a visit to Qualcomm’s headquarters in San Diego. You can watch the event live, NOW, on www.MajorityLeader.gov
Below are excerpts of Leader Cantor's remarks, as prepared for delivery.
“Before us, is a choice about who we want to be as a country. Do we want to accept a weakened status quo or change identified with renewed strength? Do we want a future of shrinking opportunity or one of boundless growth? Do we want to be a country where the government controls the people or serves them?”
“To be strong, to lead, to grow, and to empower people - here’s what we need to do. We’ve got to shift from having a government that smothers new jobs and business growth by punishing risk takers to one that nurtures an environment for entrepreneurs and investors of risk-based capital which will help people get back to work and get us back to what Americans do best: innovate, compete and lead.”
“We must make America competitive again by lowering the corporate tax rate to at least 25% - equal to our competitors. And we will do it as part of fundamental tax reform, which will minimize the impact on government revenues. Forging consensus on this type of fundamental tax reform will take time, so in the meantime I propose that we allow U.S. multinational companies to bring back almost $1.2 trillion in overseas profits at a lower tax so they can invest in our economy here at home.”
“High taxes and trade barriers aren’t the only things holding American businesses back. The Small Business Administration admits that government regulations are estimated to cost our economy over $1.75 trillion a year. That is why we are taking up legislation in the House to lessen the regulatory burden on everything from the Internet and airlines to energy production and farming. I believe all of us in Congress should start every day by asking ourselves: How is each one of us going to help start-ups?”
“There’s a reason why companies like Qualcomm, Google, Amgen, Apple, Genentech and Facebook – were all born in American dens, basements, backyards, and garages. It’s because here, more than anywhere else in the world, we are encouraged and taught to think critically and solve problems. We know how to take ideas and bring them to market better than anyone else. We pursue these ideas, even though they might fail. The result: we are the crucible of innovation.”
“We have adopted a two-track approach: “Cut and Grow.” The first part – “Cut” is obvious. Our debt has skyrocketed to over $14 trillion. Government is now borrowing nearly 40 cents of every dollar we spend. We know that we have to stop spending money we don’t have and manage the money we do spend more wisely. The American people are tightening their belts and Washington should too.”
“To lead in the 21st century, it’s all about making the right choice, however tough that may be politically. When I think about the kind of country we want to be, I think of why my family came here in the first place. Like so many, I am the grandson of immigrants who came to this country to escape religious persecution. When they came to America, they found that no matter who they were, where their parents were born, there were no limits. They learned that it really didn’t matter where they came from, it was where they were going.They came to understand that in America, the only guarantee is that of an opportunity to have a fair shot at earning success. In America it was generally accepted that by working hard, playing by the rules, you could get ahead.”
“Now, across America, people are awakening to the fact that government workers enjoy wages and benefits, far outpacing those in the private sector. Being close to those in power all of a sudden seems more important than ever before in getting ahead. This has left most Americans wondering, 'What happened to their fair shot in life?'"
“In America, you may be talking to the union worker in Philadelphia, the retired state employee in Sacramento or the working Mom in a small town in Kansas. All of them come from different places and different backgrounds. But each of them rely upon a simple and implicit guarantee – that the deck won’t be stacked against them in America. That they’ll have a fair shot and the opportunity to succeed. And we must work hard to make sure the American fair shot is here for us in this room, and for our children.”