Congressman Scott Tipton (R-CO) issued this statement following the Bureau of Labor Statistics announcement that labor force participation rate (number of Americans working or searching for work) fell to a 30 year low in August (63.5%) as would be workers gave up on finding employment. The drop in unemployment to 8.1 % is the result of the drop in work force participation, and marks the 43rd month in a row that unemployment has exceeded 8%.
"We continue to see the weakest economic recovery since the Great Depression, with 14.7% of Americans unemployed, having stopped searching for work, or unable to find fulltime employment. We have tried the President's economic policy, and it's not working. It's time for the Senate to at least debate the more than 30 House-passed jobs bills sitting on their doorstep, rather than refusing to take any action. Our country's economic crisis will not be solved with more big spending, debt and tax increases, but through policies that encourage growth and job creation. Let's make America competitive in the international market once more by lowering the corporate tax rate (which is the highest in the developed world) to bring jobs back to America's shores, invest in American energy development to create thousands of jobs, and provide responsible access to capital for small businesses to expand and put Americans back to work."
Tipton has voted to simplify the tax code and lower the corporate tax rate, as well as introduced legislation (H.R. 1356) with Rep. Ed Perlmutter (D-CO) to expand access to capital for small businesses. Tipton has also passed legislation in the House (H.R. 2842) to create much needed rural jobs in Colorado by encouraging the development of clean, renewable hydropower, as well as legislation (H.R. 4381 passed as a title under H.R. 4480) which would put into place a true all of the above domestic energy solution to create American jobs and provide long-term energy certainty.