Economy and Jobs
Too many American families are struggling. Promises of “hope and change,” massive regulatory legislation such as Dodd-Frank, and annual trillion dollar spending deficits have not cured the economy. Too many of our friends and neighbors still can’t find good paying jobs.
President Obama believes economic growth comes from Washington bureaucracy. But as a former small business owner who scraped and sacrificed to build two businesses from scratch, I know that economic growth comes from small businesses, Main Street activity, and the private sector.
The pendulum of regulation has swung too far, going far beyond what is necessary to protect the American people and instead hurting hardworking American families by choking economic growth and job creation.
As your Congressman, I’m focused on common sense solutions to grow an opportunity economy and create good paying jobs. This year, I’ve helped pass more than a dozen pro-jobs, pro-opportunity economy bills, including legislation to help veterans find good jobs, cut unnecessary red tape that makes it harder for companies to access capital, and reform the tax code to promote job growth.
- The Save American Workers Act (H.R. 30) repeals Obamacare’s 30-hour definition of “full-time employment,” which led to a costly cut in hours for many employees, and restores the traditional 40-hour work week.
- The Promoting Job Creation and Reducing Small Business Burdens Act (H.R. 37) makes technical corrections to Dodd-Frank to enhance the ability of small companies to access the capital they need to expand and create jobs.
- The Hire More Heroes Act (H.R. 22) is a win-win solution which allows businesses to hire veterans already covered by VA health benefits and not count them toward Obamacare’s costly employer mandate.
- The Bureau of Consumer Financial Protection Advisory Boards Act (H.R. 1195), which I wrote and introduced, ensures the Consumer Financial Protection Bureau pays attention to how proposed rules for “too-big-to-fail” banks unnecessarily harm small businesses, community banks, and credit unions. Small businesses create the majority of new jobs, and community banks and credit unions specialize in supporting small businesses. In order to grow an opportunity economy and create jobs, federal regulations must be adjusted to support small businesses.
- The Small Business Regulatory Flexibility Improvements Act (H.R. 527) ensures federal agencies adequately analyze proposed rules to ensure no unnecessary impact on small businesses.
- America’s Small Business Tax Relief Act (H.R. 636) allows the $500,000 allowance for the expensing of depreciable business property, helping small businesses reinvest to create new jobs.
- The Capital Access for Small Community Financial Institutions Act (H.R. 299) authorizes privately insured credit unions to become members of a federal home loan bank, providing increased access to capital in rural areas and underserved communities.
- The Keystone XL Pipeline Act (H.R. 3) authorizes construction of the Keystone XL pipeline, expected to create 40,000 good paying jobs, lower energy costs, and make America more energy independent.
- The Ratepayer Protection Act (H.R. 2042) allows for adequate judicial review of any final EPA rule on carbon dioxide emissions from existing fossil fuel-fired power plants, and allows states to protect hardworking American families and businesses from major rate hikes or service disruptions caused by the final EPA rules.
Jobs are my top priority. Each week, I meet with local business leaders, managers, and employees to hear their ideas on how Washington can remove unnecessary burdens and allow their businesses to grow. Back in Washington, I’m working hard to translate those ideas into meaningful action.
Trade is essential for the American economy and job creation. 95% of the world’s consumers live outside the United States, while trade supports 7.2 million jobs inside the United States. Almost 14,000 of our neighbors in the 9th Congressional District work in jobs supported by trade.
As a supporter of free and fair trade, I understand the benefits of successful trade agreements for the United States. We must work to expand America’s role in the global market, create an opportunity economy, and continue to pursue opportunities to create more jobs. We must not allow China to eclipse the United States and become the dominant world trade and economic power.
TPA, or Trade Promotion Authority, is the standard legislative process by which Congress controls how the President negotiates trade agreements:
- Congress sets parameters for trade negotiations.
- TPA enables active Congressional oversight during negotiations.
- Through TPA, Congress makes clear America’s priorities and initiatives for trade agreements, showing other countries we are serious about getting the best deal.
- TPA requires a minimum 60-day public review period prior to Congress voting on proposed trade agreements.
The current TPA includes 150 directives for the Administration when negotiating trade agreements and ensures Congressional objectives are made known to our trading partners during negotiations, not after, meaning the Administration can’t ignore them. One directive specifically declares that immigration and amnesty may not be included in negotiations for trade agreements currently being discussed, including TPP and T-TIP.
By establishing this active role for Congress during the negotiation of trade agreements, we can comfortably streamline the final decision process to a yes or no vote. Let me be clear – Congress still has the final say in the approval of trade agreements. If the agreement does not represent the best interests of Americans or the President does not follow the clear objectives set forth by Congress, it will be voted down. If the agreement does not represent the best interests of North Carolina’s 9th Congressional District, I will vote against the agreement.
The Trans-Pacific Partnership (TPP) is a free trade agreement currently in negotiation between the United States and 10 of our closest trading partners around the Pacific. The conditions of this free trade agreement are still under extensive negotiation but could potentially eliminate tariff and non-tariff barriers to trade and investment among the countries involved.
The TPA gives Congress a powerful and clearly stated role in TPP negotiations, ensuring this previously secret negotiation will not be finalized without full oversight.
Congress makes the laws. Only Congress can approve a trade agreement, and we can strip President Obama of this trade authority if he fails to follow the guidelines we’ve put in place.