By Jay Heflin - 08/15/10 02:52 PM EDT
Sen. Bob Corker (R-Tenn.) on Sunday said the best thing Congress could do to stimulate the economy is stop passing reform bills that require companies to stop expansion and figure out how those sweeping changes will affect their bottom lines.
"The best thing we can do is calm down," he told ABC's "This Week," adding, "I sat down with a business this week — I'll give you an example — and they're looking at the healthcare bill, and they're trying to decide, should they keep people under 30 hours? Smaller businesses are saying, should we stay under 25?”
Corker also said debate over the fate of tax cuts enacted by President George W. Bush should be postponed for at least a year to give taxpayers some certainty in the short term that their taxes will not rise.
Congress is expected to take up the issue when lawmakers return in September. Former New Jersey governor and onetime Goldman Sachs chief Jon Corzine urged Congress to get off the dime in deciding how to handle those breaks.
“I would hope that the Congress and the president would either say, ‘We’re going to get to a conclusion about the long-term, or we’re going to extend this for a year and we’ll come back and debate this at another point in time,'” he said. “Because that is a major uncertainty overhanging the economy.”
Corzine also predicted the rough economy will be an impediment to incumbents surviving their reelection bids.
“Anytime the economy is weak, incumbents are going to have challenging reelections,” he said, adding, “I think we’ll see some of that this fall.”