It's been nearly five years since the collapse of the housing market and
I don't believe economic strength starts with the government, but it can certainly be restrained by government mandates, inefficiencies and incompetence. The government has a role in protecting citizens and ensuring equal opportunity, but when it comes to running businesses, government is a lousy CEO.
I've recently updated my memo to constituents on how I think we create jobs and economic growth. First of all, I lay out some of the things I've been personally working on that would create and protect jobs locally.
As Chairman of the Energy and Commerce Health Subcommittee, I worked across party lines to pass legislation to reform the
The Food and Drug Administration Safety and Innovation Act was signed by the President in 2012. Since then, I've been working to make sure that the law's innovations are implemented and that American companies can continue to grow and work on new cures.
One of the ways government hampers job growth is by picking winners and losers in the marketplace. Government programs can protect the jobs of one industry, but it often means someone else in the economy is losing out. The
I've been working on the
While I believe that each of these efforts is a good positive step toward creating jobs, I think there are some big things that we could do that would have a much greater impact on the economy.
First, we need tax reform that encourages American job creation and that works for every American, not just the people who can afford the best lawyers and accountants. By simplifying the tax code, increasing the child tax credit and encouraging companies to invest their overseas profits in the U.S. we can help American families and encourage American companies to grow here at home.
Next, I support
Finally, we should work toward a sensible balanced budget for the federal government. According to economists, the government debt has reached a level where it constrains economic growth. At the rate the debt is growing, interest payments will soon be the largest line item in the annual budget. That hurts the economy.
What I've written here is just a summary of the full memo. Visit Pitts.house.gov/Jobs to read my plan.
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