This Labor Day, Support Moves to Get America Working Again

Throughout our history, American ingenuity and innovation have spurred our nation forward and created a prosperous economy.  Labor Day is a day to recognize working men and women and the opportunities that make America a great place to work, raise a family, and build a life.

Unfortunately, this Labor Day, confidence and hope in America’s future seem to have slipped — replaced by uncertainty and frustration.

As it was last year, unemployment remains above 9 percent. For the first time, the average length of unemployment has surpassed 40 weeks. Entrepreneurship, a backbone of American economy, has slowed significantly. Since 2007, there has been a 23 percent drop in new business creation, falling to the lowest levels since 1994.

The non-partisan Congressional Budget Office released a midyear update on the budget and economic outlook. The report predicted that our unemployment rate is likely to stay above 8 percent until 2014 — not a very rosy picture for the millions of Americans out of work.

The current situation reflects an economic policy that has failed to stimulate job growth.

In a few days, when I return to Washington for the legislative session, President Obama will give a “jobs” speech to Congress. There has long been a vacuum of leadership from the White House on the most important challenge facing Americans. 

When the President delivers his speech to Congress next week, I hope to hear what all Americans are waiting to hear: certainty that Washington “gets it” and will stop threatening new taxes and regulations, and instead, will provide leadership and allow small businesses and employers to create much-needed jobs.

First, we should work to reduce the regulatory burden Washington places on our job creators. Regulatory relief must include repealing specific, costly regulations and also provide for a broad review of the rule-making process. The result of the easing of government regulations will boost the confidence of small and large employers to hire new workers, without fear of more costly rules and regulations.

Second, we must give relief to the backbone of America’s economy, our small businesses. Small businesses employ about half of all Americans and created two-thirds of new jobs in the country in the last 15 years. Rather than impose new taxes on the engine of job creation in America, Congress must look for ways to help small businesses grow and create new jobs.  One idea I support is to allow small businesses to take a tax deduction equal to 20 percent of their income, freeing up much-needed capital to invest and expand.

This fall presents an opportunity for leadership in Washington to work together and move forward a pro-growth agenda that will help get our economy back on track. Our plan must reward hard-working Americans with the kinds of opportunities for prosperity this country has always cherished.

So, on this Labor Day 2011, my hope is that we do more than recognize for just one day what hard work and toil have accomplished throughout our history, but instead, pledge to make the necessary changes that will benefit all Americans in the future.