Congressman Joe Walsh (IL-08) released the following statement today after the Department of Commerce reported that the economy only grew at 1.3 percent in the second quarter of the year, below the previously reported rate of 1.7 percent.
"American families don't need the Department of Commerce to tell them that the economy hasn't recovered, they already know it. As Chairman of the Small Business Subcommittee on Economic Growth, Tax, and Capital Access, I've been hearing over and over again how hard American families and small businesses are struggling.
"This meager second quarter growth rate only confirms what we've known all along: the last four years of big government and reckless spending haven't worked. It's imperative that Washington come together and create some certainty for American businesses and families. How can American businesses grow and hire more employees, if they have no idea what to expect from Washington on taxes and regulations?
"This is not something that can wait until January or the new election. It's time to reach across the aisle now, put a moratorium on new regulations, and extend current tax rates for small businesses."