Economy & Budget
The faces at the negotiating table may change over the years, but the dispute between the USA and China remains the same: how should America’s policymakers respond to China’s undervalued currency? As China suppresses the value of its currency, it creates an unlevel playing field for U.S. businesses, and this competitive disadvantage contributes to U.S. jobs losses.
Today looks to be a great day that’s been a long time coming. Today the Senate finally starts the voting on the Small Business Jobs Act and with the word that Senator Voinovich will support the bill success is at hand. Before the voting began a press conference was held in the Mansfield Room of the Capitol. Speaking were Senators Landrieu, Boxer, Merkely and Cantwell . Also speaking at the event was Gene Sperling, Counselor to Treasury Secretary Geitner, John Arensmeyer, president of the Small Business Majority and me.
Politicians can yammer all they want about “creating” new jobs, but do they have the backbone to save the few remaining good jobs that exist? Two major shipbuilders (Northrop Grumman, with two first-tier yards in the Gulf Coast one in Newport News Virginia; and Aker Philadelphia Shipyard) are issuing layoff notices that will eventually hit as many as 12,000 or 13,000 workers. The ultimate job casualties will be ten times that total.
“The good news is that a growing chorus of Democrats, including at least five here in the Senate, are coming round on this issue. They oppose the tax hikes the administration is proposing. That’s why I’m introducing legislation today that ensures that no one in this country will pay higher income taxes next year than they are right now.”
Senate Republican Leader Mitch McConnell made the following statement Monday regarding rising taxes and the economy in Washington, D.C.:
With the national unemployment rate at 9.6 percent Americans are wondering, “where are the jobs?”
When Congress reconvenes, President Obama has urged that passage of H.R. 5297, The Small Business Jobs and Credit Act, be a top priority. We applaud President Obama’s focus on small business.
Some of the nation's top political commentators, legislators and intellectuals offer insight into the biggest questions burning up the blogosphere today.
Should Republicans vote for a bill that offers middle-class tax cuts, but phases out cuts for the wealthy?
During the August recess, I heard the anxiety of small business owners all over Iowa.
Their anxiety comes from the bad economy and uncertainty over their tax rates and health care expenses.
Key tax decisions are down to the wire, and there’s good reason for concern.
In the next month, the Senate is expected to consider whether to prevent a number of tax increases that will occur on January 1, 2011, unless Congress acts to stop them. One of the tax increases the President is proposing is an increase of the tax rates for the top two tax brackets.