Working Together to Grow Our Economy and Create Jobs

Floor Speech

The SPEAKER pro tempore. The Chair recognizes the gentleman from Pennsylvania (Mr. Fitzpatrick) for 5 minutes.

Mr. FITZPATRICK. The recent release of the May unemployment rate at 9.1 percent was a harsh reminder that a jobless recovery is not a recovery at all. I believe that in order for our economy to grow and small businesses to create jobs, the first step must be to restore fiscal order to the Federal Government. This year, our government is borrowing 42 cents of every dollar that it spends. In addition to burdening our children and grandchildren with an enormous debt, such reckless spending crowds out private investment and competes with small business for access to capital. While reducing our deficit spending is an important first step to economic recovery, we can and we must do more.

Since taking office, President Obama has dramatically increased the regulatory burden on small businesses. In 2010 alone, the administration has handed down 43 major new regulations--the highest single-year increase on record. The President has also used the regulatory process to block development of vast domestic energy sources. This has led to costly burdens that prevent small business growth as well as higher prices at the pump.

While regulations can help protect our environment, they should be based on common sense and not stifle growth. Recently, I helped a small manufacturer cut through months of costly Federal red tape that delayed expansion and hiring at his facility in Bucks County, Pennsylvania. We must work to make sure that unnecessary and duplicative regulations do not stand in the way of job creation in our region and across our great Nation.

Finally, we must proactively encourage private sector job creation. I have been working, Mr. Speaker, on two pieces of legislation in this area. The Hire Just One Act would provide a one-time tax credit to small businesses that hire a full-time permanent employee this year. I have also introduced the Fairness to Veterans Act, which would extend Federal contracting preferences to veteran-owned small businesses. This bill is designed to honor the service of our Nation's men and women in uniform as well as address the staggering 21 percent unemployment rate among veterans returning from Iraq and Afghanistan.

I'm committed to working to fix our economy and making sure that the Federal Government is a partner in job creation, not an obstacle to it. Together, we can grow our economy and create private sector jobs and opportunity.

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