Congressman Jim Gerlach (PA-6th District) issued the following statement Thursday night after President Obama delivered a speech on job creation and the economy to a joint session of the U.S. House of Representatives and U.S. Senate:
"Everyone shares the urgency of creating jobs for the 14 million Americans out of work and allowing businesses to thrive. Preventing tax increases on families and businesses, opening new markets to American-made goods, cutting red tape and helping hard-working Americans weather this economic storm are all common sense ideas that the House has been working to put in place for months.
What the President did not acknowledge tonight is the need to get rid of the job-crushing mandates contained in the federal health-care law enacted last year and implement an aggressive plan for developing more sources of American-produced fuels to lower energy costs. Also disappointing was the President's insistence that Congress pass his entire wish list now without any specific plan on how to pay for it. That kind of approach has led to $1 trillion-per-year budget deficits that hamper growth and fuel uncertainty. Ultimately workers and employers will judge the President's sincerity about working with Congress to create jobs based on his actions and policies rather than his speeches."
Gerlach added that employers throughout the 6th District have indicated uncertainty about possible tax hikes and looming regulations are creating uncertainty, which is the chief obstacle to hiring and growing businesses.
Glenn Rieger, partner of Radnor-based NewSpring Capital, was among 13 job creators who attended the President's speech at the invitation of House Speaker John Boehner.
"NewSpring Capital and the venture industry would significantly benefit from a better regulatory environment for our investment funds and our portfolio companies," Rieger said.