Mr. THOMPSON of Pennsylvania. Madam Speaker, since this year began, the United States House has put forth measure after measure to incentivize growth and end burdensome regulations, only to see them stall in the Senate and be ignored by the President.
Two years after passage of the stimulus, unemployment remains at staggering levels, despite billions of dollars still sitting in government coffers. It was my hope that the President would move past his stimulus spending proposals and offer real economic relief. While some of the President's proposals put forward in his Joint Session speech merit consideration, this bill is no substitute for the targeted, long-term policies needed to empower private sector investment by facilitating an economic climate where businesses have the confidence to hire workers and take on new endeavors.
We're not talking about real, pro-growth tax reform and regulatory relief because it sounds good. It's what our economy needs, and badly.
It's time for Congress--both Chambers--and the President to recognize the pressing need for real tax relief and aggressive regulatory reform. It's time for a new direction, and it's time for action.