Issue Position: Small Business

Issue Position

According to a recent survey of small business owners by Citigroup Inc., only 17% had plans to hire additional employees. When our nation's small businesses -- who employee half of our nation's private work force -- are not hiring, it impedes economic growth.

Washington needs to abandon deficit spending and stimulus quick-fixes and instead return to economic principles that promote recovery and encourage the creation of much-needed new jobs. There are several steps that Congress can take that would create jobs and spur innovation:

Make tax cuts permanent. Implementing lasting tax cuts will help to restore economic freedom in the United States and put our country on the path to a brighter future. I have cosponsored the Economic Freedom Act (H.R. 5029), which would reduce taxes for American businesses and families.

Decrease burdensome regulations on small businesses. In our current economic situation, we must show our small businesses that we support them by continuing pro-growth policies like lowering taxes, simplifying the tax code, and reducing burdensome regulations.

Develop lasting energy solutions. We need a bold initiative that will encourage investment in new forms of energy, thus ending our dependence on oil and creating thousands of new energy jobs for Americans. I have introduced the New Manhattan Project for Energy Independence, which would create a national challenge for lasting energy solutions.

Lower the debt. Our national debt is expected to reach 93.1% of our GDP this year. Economic experts say even a 1 percent increase in GDP can create almost one million jobs. We must make a commitment to decreasing the national debt, which is why I have introduced a bill to cut government spending by 40% over the next five years.

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