Mr. BROOKS. Mr. Speaker, I have read President Obama's American Jobs Act. It is 155 pages and single spaced. I encourage the American people to read it too.
Unfortunately, President Obama's American Jobs Act does not address the underlying structural issues with the American economy. In fact, in my judgment, it destroys more long-term jobs than it claims to create.
Some history is in order. In November 2006, America's unemployment rate was 4.5 percent. That's right, 4.5 percent--less than half today's rate.
In November 2006, Democrats captured Congress and gave us House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid.
In November 2008, President Obama was elected. For 2 years, Democrats completely controlled America's economic policy. The result: Between November 2006 and November 2010, 7 million American jobs were lost. America's excellent November 2006 4.5 percent unemployment rate deteriorated to 6.8 percent by November of 2008 and degenerated further to 9.8 percent by November 2010.
For almost 5 years, America's job creators have been hammered by job-killing policies. America's job creators are reeling from ObamaCare costs. America's job creators are shell-shocked by a job-killing National Labor Relations Board that sues to kill South Carolina jobs because South Carolina dares to be a right-to-work State in which workers cannot be forced to join a union.
Obama's job-killing 10 percent tax increase awaits job creators in 2013.
Obama's EPA repeatedly imposes new, costly environmental regulations that risk plant closings and kill jobs.
Obama's three consecutive trillion-dollar deficits threaten America with insolvency and bankruptcy and frighten job creators into inaction. In 5 short years, President Obama and his congressional allies have replaced a pro-free enterprise, job-friendly environment that created 6 million jobs between 2003 and 2006 with class warfare, demonization of job creators, socialist feel-good policies that don't work, and 7 million lost jobs between 2006 and 2010.
Mr. Speaker, Obama's so-called jobs bill creates ``one and done'' short-term jobs that will evaporate the moment Obama has blown through another $450 billion in borrowed money. In exchange for ``one and done'' jobs, Obama kills real jobs.
First, Obama raises taxes on America's domestic oil industry, which increases production costs, drives up domestic oil prices, reduces demand for domestically produced oil, thereby destroying domestic oil industry jobs.
Obama's higher oil taxes force price increases for gasoline, heating oil, and plastics. These higher prices in turn drive up manufacturing costs in America, make America less competitive, and kill jobs across our entire economy.
Second, and incredibly, Obama gives civil rights status to unemployed people, empowering them to file costly EEOC complaints and Federal lawsuits against employers for discrimination any time an employer does not hire an unemployed person. Millions of frivolous EEOC complaints and lawsuits will drive up the cost of doing business in America which, in turn, kills business and destroys American jobs.
Third, Obama raises taxes on charitable contributions to churches, synagogues, mosques, the Red Cross, United Way, and other charitable institutions. Higher taxes mean fewer charitable contributions, which kills religious and charitable institution jobs. Obama does not have a jobs bill; Obama has a kill-jobs bill that encourages jobs to relocate overseas.
Mr. Speaker, America's economy has serious structural issues that Presidential Band-Aids and makeup won't fix and can't hide. President Obama's kill-jobs bill must be defeated because it is poorly thought out, bad economic policy, and costs American jobs. President Obama's kill-jobs bill is a political document, not an economic document. It gets an ``A'' for class warfare politics and an ``F'' for job creation.
Mr. Speaker, I urge defeat of President Obama's kill-jobs bill. It must be killed before even more damage is done to America's economy.