Issue Position: Economy and Jobs

Issue Position

America's success has always been grounded in free enterprise and small business. In New Hampshire, small business is the engine that drives our economy with more than 96% of businesses employing fewer than 100 people. It is the entrepreneurial spirit and innovation of these businesses that keep unemployment low and cash flowing into our economy. Representative Guinta believes that the best thing Congress can do is create a favorable economic environment for businesses then get out of the way. To do this, Congress must control spending, decrease uncertainty in the private sector, and keep taxes low. These policies will allow for maximum growth of the economy and produce much needed jobs.

Earlier this year, Congressman Guinta launched his Getting Granite Staters Back to Work initiative, bringing together the various people involved in job creation to work in sync for the goal we all share: putting more people on our state's payrolls. This ongoing initiative includes visits to small businesses, a survey of small business owners, job creators' roundtables and job fairs.

Congressman Guinta co-sponsored H.R. 4, the Small Business Paperwork Mandate Elimination Act.

* The health care law, enacted last year, created a new and burdensome tax reporting requirement for businesses. Businesses were forced to issue a Form 1099 for any payments to corporations and for any payments for property that exceed $600 per year. This requirement imposed a huge tax compliance burden on small businesses, forcing them to devote even more resources to the tax preparation process and away from job creation and expansion.
* H.R. 4 repealed this government overreach and will relieve families and job-creating small businesses from these burdens.

Congressman Guinta vote for passage of H. Con. Res. 34 (The Path to Prosperity) - The Budget for the United States Government for Fiscal Year 2012.

* The Path to Prosperity fosters a better environment for private-sector job creation by lifting debt-fueled uncertainty and advancing pro-growth tax reforms.
* This budget calls for a simpler, less burdensome tax code for small businesses and lowers tax rates for individuals, businesses and families. It sets top rates for individuals and businesses at 25 percent and improves incentives for growth, savings, and investment.
* Analysis shows that H. Con. Res. 34 will create nearly 1 million new private-sector jobs next year and 2.5 million additional private-sector jobs in the last year of the decade. These parameters unleash prosperity and economic security, yielding $1.1 trillion in higher wages and an average $1,000 per year in higher income for each family.

Congressman Guinta co-sponsored H.R. 1744, the American Job Protection Act.

* This bill eliminates the damaging employer-mandate provision in the recently enacted health care law. The health care law requires businesses with 50 or more full-time employees to offer certain health benefits or pay steep penalties. Repealing this "employer responsibility" provision would not only protect existing jobs, but spur the creation of new jobs by removing the fear and uncertainty many small businesses are experiencing in anticipation of the approaching coverage requirements that begin in 2014. The Congressional Budget Office estimates that 800,000 fewer people will have jobs in the next 10 years because of this provision if not repealed.

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