Washington, D.C., August 27th -

Dear Friends:
 
According to a recent CBS poll, more than 80 percent of Americans think the economy is in bad shape and 34 percent believe things are going to get even worse.  Fears of a “double-dip” recession are gaining momentum, particularly as we learn that economic growth shrank during the second quarter and housing sales collapsed in July.  It is now clearer than ever that the Washington policies meant to bolster our economy have failed. 

Small business owners have repeatedly warned leaders in Washington that spending, borrowing and debt cannot foster a stable economy.  My Republican colleagues and I have tried to explain to the Administration and Majority that small businesses can lead our recovery, but only if the government encourages an environment where growth is possible.  It seems all our pleas have fallen on deaf ears as more regulations, taxes, and government intrusion continue to flood the private sector.

The entrepreneurs with whom I met in Missouri and Iowa this week said it best when they told me that Washington needs to empower small businesses.   It’s time to face facts and accept that the status quo isn’t working.  We need a new way forward in Washington that will stabilize our economy and put us back on the path to prosperity, but that will only come if we listen to the folks who know job creation best: entrepreneurs.

I encourage all of you to visit America Speaking Out to share your views on how we can strengthen our economy.  

News from the Small Business Committee:
(Please send any Member media activity to Alexandra.Haynes@mail.house.gov)

• Ranking Member Sam Graves (R-MO) met with small business owners and community leaders in Iowa to discuss the economy and job creation.

• Ranking Member Graves toured American Family Insurance in St. Joseph, Missouri.

• Rep. Roscoe Bartlett (R-MD) held a town hall in Frederick, Maryland on August 18th.

• Rep. Steve King (R-IA) will hold a town hall in Sioux City, Iowa on August 30th.

• Rep. Mary Fallin (R-OK) was honored by the Oklahoma chapter of Americans for Prosperity for signing the group’s “No Climate Tax Pledge.”  

• Rep. Vern Buchanan (R-FL) released a video discussing his jobs plan and the need for Congress to focus on supporting small businesses.

• Rep. Buchanan issued a statement commenting on the need for a Balanced Budget Amendment.

• Rep. Blaine Luetkemeyer (R-MO) has embarked on a Show-Me Small Business Jobs tour to meet and talk with small business people throughout the 9thDistrict of Missouri.

• Rep. Luetkemeyer discussed why small businesses can create jobs that Congress cannot in the Quincy Herald Whig.

• Rep. Luetkemeyer’s comments on extending tax cuts for small businesses appeared in MissouriNet.

• Rep. Luetkemeyer also discussed why tax increases will harm small businesses in the Fulton Sun.

• Rep. Glenn Thompson (R-PA) visited a technology company in his district that is working to eliminate the threat of improvised explosive devices to American soldiers. View photos of his visit here.
 
• Rep. Mike Coffman (R-CO) released a statement after voting against the Democrats’ latest so-called jobs bill.


Updates from Washington:
(Please send any Member initiatives related to small business and job creation to Paul.Sass@mail.house.gov)

• House members returned to Washington on August 10th to consider the Senate amendments to H.R. 1586, dubbed the “State Bailout Bill” by House Republicans. This package included $26.1 billion in federal bailouts for states that was partially offset with permanent tax increases and rescissions. Opponents said the legislation was another unaffordable bailout that imposes permanent new taxes on businesses.  H.R. 1586 passed 247-161 along party lines. Read more about H.R. 1586 here.

• The Gulf Coast Claims Facility is now fully functional and processing oil spill claims. All claims filed with BP prior to August 23, 2010 have been transferred to the Gulf Coast Claims Facility for review.  To learn more, visit the House Small Business Committee Republican’s “Oil Spill in the Gulf” webpage.

• On August 24th, Republican Leader John Boehner (R-OH) delivered a speech in Ohio that outlined five things President Obama should do to reduce uncertainty and create jobs.  During his speech, Mr. Boehner discussed the importance of eliminating the 1099 reporting mandate from the new health care law as a way to encourage small business growth.  To read the full transcript, click here.  To watch video of the speech, click here.

• With the summer drawing to an end, it is a good time to reflect on the White House’s “Recovery Summer,”  which promised monthly jobs gains of 500,000 and unemployment reduced to 8 percent. Here’s what we’ve seen this summer:

o Unemployment remains at 9.5 percent;
o First-time claims are at 9-month high;
o Sales of existing homes hit the lowest point in fifteen years;
o The stock market is down 11 percent from its peak in April; and
o The consumer confidence index continues to drop.


News and Resources for Small Business Owners:

• The Heritage Foundation released a report entitled, “Medicare Trustees Issue Report Disavowed by Chief Actuary.”

• NFIB published its August 2010 Small Business Economic Trends.

• House Ways and Means Committee  Republicans released a study that shows 48 out of 50 states have experienced job loss since President Obama's $862 billion "stimulus" bill passed last year.



                                                                 ###