This Week in Washington - Friday, May 7, 2010
New unemployment figures came out this morning. Once again, the unemployment rate has risen; it's now at 9.9%. While the economy did gain jobs, it was not nearly enough to pull us out of the current recession.
Congress should be focused on legislation that will help create jobs. The government does not create jobs, but we can set the table for economic growth with policies that mean less taxation, less regulation and less litigation. Unfortunately that is the opposite of what this administration has done.
This Week
Cash-for-Caulkers: On Thursday, the House passed H.R. 5019, the Home Star Energy Retrofit Act, or "Cash-for-Caulkers" bill by a vote of 246 -161. H.R. 5019 would authorize a total of $6.6 billion, primarily for a new Home Star Retrofit Rebate Program to be run by the Department of Energy (DOE) that would provide rebates to contractors for energy-efficient remodeling on existing homes. I voted against the bill, because once again Congress is trying to pass legislation to alter supply and demand. This type of government-driven stimulus does not work.
H.Res. 1312 - Recognizing the roles and contributions of America's teachers to building and enhancing our Nation's civic, cultural, and economic well-being. I sponsored this resolution and spoke about it on the House floor. You can watch my remarks here. The resolution passed unanimously.
Small Business Committee
The House Small Business Committee held a hearing to examine tax provisions for small firms.
The economy is still struggling and the outlook is uncertain. Companies remain skeptical about a lasting economic recovery. Taxes are a constant concern for small companies. In this economic climate, every expense is an added burden.
To add insult to injury, small businesses are reeling from the news that under the new health care law, they will be forced to provide health insurance or pay a penalty. And that's in addition to the myriad of new regulations and reporting requirements that also come with the new law. All these factors combine to make it increasingly difficult for small businesses and entrepreneurs to have the confidence they need to expand their business or hire new employees.
For video of the hearing, click here.
The House will be is session again next week. Have a good weekend.
Sincerely,
Sam Graves