| Weekly Update from Sam |
Dear Friends,
Today marks the 3rd anniversary of the President’s failed stimulus spending bill. Since that time, unemployment has skyrocketed and still remains above 8 percent and the national debt has increased by $4.6 trillion dollars, leaving us with over $15 trillion in total debt. On top of this, in just the first six months of this fiscal year alone, the Obama administration has issued 15 major regulations with annual costs exceeding $5.8 billion and one-time implementation costs approaching $6.5 billion.
This continual cycle of tax, spend and regulate by the Obama administration continues to paralyze small businesses around the country. In fact, a Gallup poll released this week reveals that 85 percent of small business owners are not looking for new employees due to costly unnecessary regulations, economic uncertainty, threats of tax hikes and potential health care cost.
What is the Obama administration’s response to this? Well, just this week President Obama proposed his Fiscal Year 2013 budget which includes the biggest tax increase in history and the biggest budget deficit ever proposed.
In order to get the more than 12 million unemployed Americans back to work— Washington must cut spending, lower taxes and remove job-destroying regulations. The President should start by taking another look at the budget and telling Senate Majority Leader Harry Reid to pass the nearly 30 House-passed jobs bills sitting in the Senate.
Sam Graves
Chairman
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| Latest Committee Action |
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On Wednesday, Healthcare and Technology Subcommittee Chairwoman Renee Ellmers (R-NC) held a hearing to examine the growth and importance of broadband to small businesses, including the role of the federal government in providing access to rural America. From increasing bookkeeping efficiency to global video conferencing to boosting online sales— broadband provides the gateway for business growth, job creation and the ability to compete globally. However, rural America has a severe shortage of network infrastructure that greatly limits small businesses from fully utilizing broadband services.
On Thursday, Economic Growth, Tax and Capital Access Subcommittee Chairman Joe Walsh (R-IL) held a hearing to examine the role of SBA disaster assistance to help small businesses recover after a disaster. The Subcommittee heard from a business owner on what it takes to recover from a disaster and his experience attempting to get financial assistance from the SBA. Members also learned about the programs offered by both the state and federal government.
Also on Thursday, Republican Members of the Small Business Committee conducted a roundtable discussion entitled: The Interests of America’s Small Businesses in the Next Farm Bill. The roundtable provided an opportunity for Members to engage the agriculture industry to discuss small business concerns for the upcoming reauthorization of the farm bill, what changes will be made, and how it will affect these small entities.
On Friday, Chairman Graves (R-MO) and Rep. Allen West (R-FL) introduced the Contractor Opportunity Protection Act (COP) of 2012 which will help protect small business contractors by addressing unfair contract bundling. This bill would restrict the practice of unjustified contract bundling by providing the SBA and third party groups with the ability to appeal an agency’s decision to bundle. Today’s legislation is part of a comprehensive initiative from the House Small Business Committee aimed at reforming small business contracting policies.
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News From Washington
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On Thursday, the House passed the Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act (PIONEERS Act- H.R. 3408). This bill would push forward the development of oil shale and provide a path for construction of the Keystone XL Pipeline. H.R. 3408 passed by a vote of 237-187.
On Friday, the House passed the Conference Report on H.R. 3630, the Middle Class Tax Relief and Job Creation Act of 2012 by a vote of 293-132. This legislation will extend the current payroll tax rates for the remainder of calendar year 2012. The agreement also extends payment rates for Medicare doctors (also referred to as the “Doc Fix”) through the end of the year. H.R. 3630 is fully paid for by several provisions, such as requiring new civilian federal employees and Members of Congress to contribute more towards their defined benefit pension programs.
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| February 17, 2012 |
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