WASHINGTON, November 15--In a Budget Committee hearing today, Congressional Budget Office Director Douglas Elmendorf admitted that his agency's long-term projections about President Obama's first stimulus bill show a negative long-term effect on economic growth.
As a centerpiece of his current economic agenda, the president is proposing a new, half-trillion dollar stimulus bill.
Nov 10 2011
U.S. Senate Republican Leader Mitch McConnell delivered the following remarks on the Senate floor Thursday honoring America's veterans.
Nov 09 2011
U.S. Sen. Jim Inhofe (R-Okla.), a senior member of the Senate Armed Services Committee (SASC), gave thanks to our nation's veterans and soldiers on Veterans Day.
Nov 08 2011
Small businesses are struggling under the burden of existing government regulations and the threat of even more, if the president has his way. Senate Republicans are committed to removing burdensome regulations from America's businesses and preventing the imposition of further barriers to job creation, such as the administration's recent attempt to have the federal government control the Internet, which would discourage innovation and put American businesses at a disadvantage in the world market.
In the Weekly Republican Address, Massachusetts Sen. Scott Brown discusses the bipartisan approach to job creation.
Sen. Brown says, "With millions of Americans looking for jobs -- it's no mystery what our priority should be here in Washington. We should be doing all that we can to help this economy start creating jobs again -- and we should be doing it right now. Working to create jobs is one of those challenges that tests us here in Congress."
"[U]nfortunately," he says, "too many Americans have spent months looking for a job and still can't find one. The reality is that we should make a difference here and now, with legislation that could be passed immediately. Now I know this can happen, because both parties have already found some common ground in economic policy for example. Just a few weeks ago, we passed free trade agreements with South Korea, Colombia, and Panama. These agreements show what bipartisanship can accomplish. They were negotiated by President Bush ... passed by a Republican House and a Democratic Senate ... and signed into law by President Obama. Yes, it took us a lot longer than it should have, but after some give and take, we finally got it done. And just like that, we set in motion a big change that is going to create thousands of jobs in Massachusetts and all across America."
Now, Sen. Brown says, "another bipartisan opportunity is staring us right in the face. It's a jobs bill I introduced back in January. And far from being just my idea, it's the only jobs bill on the table that has the support of majorities in the House and the Senate, and also has been endorsed by the President. This bill would repeal the 3 percent withholding mandate -- it's a stealth tax that will hit small businesses and contractors starting in 2013. If this mandate is not repealed, then all levels of government will suddenly start withholding 3 percent of payments to contractors that provide any product or service to the government. Now, all the mandate will do is, is take more money out of our economy at a time when quite frankly we can least afford it. And as a result, businesses will have less money to hire and pay new workers. The costs of enforcing this unfunded mandate will actually be higher than the revenue it raises by almost eight to one; now only in Washington does this make sense; listen, it's a job killer."
Sen. Brown points out that this bipartisan bill "was passed by the House last week with an overwhelming 405 votes. Now it's come to the Senate. So the decision pretty much rests with Majority Leader Harry Reid. Are we going to do something for the American people, or are we going to let politics win out again?"
He concludes, "Leader Reid has come to me a few times and asked me to consider bills on their merits, and I'm always willing to do so. And now I'm asking the same of my colleague, the Majority Leader. This jobs bill comes at the right time, for the right reasons, and it deserves a prompt vote on the Senate floor, without any gimmicks that will delay or jeopardize passage, so the President can sign it into law right away. . . . This jobs bill, if we move it forward, can be followed by many more that can do even greater good. So hey, let's start here. Let's get this economy creating jobs once again, and show that we can come together when it's needed most."
U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Thursday regarding the two infrastructure votes this afternoon.
Senators John Thune, John Barrasso, Kay Bailey Hutchison, and Rob Portman and Representatives Diane Black and Bill Flores held a press conference this morning to call for Senate action on the jobs bills -- known as the "Forgotten 15" -- the House of Representatives has passed as part of Republicans' efforts to make it easier and cheaper to create private-sector jobs. All of the "Forgotten 15" jobs bills passed the House with bipartisan support and are opportunities for common ground on job creation.