American families and businesses need Congress to take action and create an environment that will foster private sector job growth. To succeed, we must restore confidence in our economy and ensure American businesses can compete.
"I commend the President's leadership in recognizing that we must act now to stimulate job creation, even as we tackle our long-term structural deficits.
"I have called on President Obama to move forward with ideas that are proven job creators such as:
* Extending a tax credit for small biotech companies in order to encourage innovation and remain the international leader in the life sciences industry. I have introduced bipartisan legislation to extend tax incentives for small biotech businesses across the country. The successful initiative I spearheaded in the last Congress has already helped 3,000 small companies create jobs, develop products and advance research. We should build on that success and extend the tax credits.
* Rebuilding our communities beyond transportation infrastructure to include renovating our older buildings and local municipal buildings. I have spearheaded successful initiatives to modernize police and fire departments and modernize the historic tax credit for older buildings--both of which have a proven record of creating jobs and stimulating economic activity. We should extend these efforts to enhance the quality of life in our communities and promote job creation.
* Honoring the sacrifice of our service men and women by creating additional private sector opportunities when they return home. I championed legislation offering tax incentives to employers who hired veterans returning from Iraq and Afghanistan. That bill was signed into law in 2007 and strengthened by President Obama in 2009. I commend the President for recognizing the need to further reduce unemployment among veterans and create more job opportunities for them.
"I urge the President and my Republican colleagues to move forward with these initiatives to ensure our economic growth is focused and sustained.
"This is the time for action, not rhetoric. It's the time for compromise, not opposition. We must act now to maintain America's economic might in a challenging 21st century economy.