Reed Releases Statement on Jobs

Tom Reed today released the following statement regarding jobs and employment:

 

“According to Dept. of Labor, Unemployment rate as of Sept. 2010 remains at 9.6%. One year ago, in

Sept. 2009, it was 9.3%. The unemployment situation has not improved over the last year. I want to be

clear about my philosophy on job creation. Government cannot create jobs. Government should do what

it can to create an atmosphere where entrepreneurs and innovators can create the products and services of

tomorrow.

 

As a small businessman, I understand the challenges that businesses face. But every day I am learning

more about how Washington’s unsustainable debt and borrowing hurt our businesses by creating a

negative atmosphere for investment and growth.

 

What can we do?

 

1) Remove the uncertainty that businesses currently face regarding taxation and Obamacare. As I

speak with people in both small and large businesses across the district, I continually hear that

they aren’t investing and risking capital because they have no idea what their tax rates will be on

January 1. They are also receiving notices that their health care premiums may be increasing by

double digit percentages in 2011. If elected, I will immediately call for the 2011 tax rates to be

determined. Small businesses employ about half of all Americans, yet they can be subject to tax

rates that siphon away one-third or more of their income.

 

2) Excessive regulation also is a barrier to job growth. I recently met with the owner of a seven

employee sand and gravel business in Allegany County. They spend almost half their time on

paperwork and compliance with 40 federal, state, and local agencies. Do we really need

government so involved that as much time and money is spent on paperwork as is spent actually

doing business? If elected, I will call for a review of every regulatory agency to be sure that it is

essential, efficient, and not duplicating the work of other levels of government.

 

3) Washington has given us record-level debt, which forces new taxes, creates anxiety and

uncertainty about tax structure and trade policy, and discourages investment. Unsustainable debt

and borrowing hurt our businesses by creating a negative atmosphere for investment and growth.

If elected, I will lead the fight for balanced budgets and put an end to out-of-control government

borrowing.

 

4) I have learned a great deal over the last 16 months of listening to employers across the district –

they are the ones that know best what they need to grow their businesses and create jobs. If

elected I will stay informed and in touch with job creators directly and indirectly through our Jobs

Task Force Steering Committee. That committee will have members from the manufacturing,

agriculture, engineering and financial sectors working to establish goals and timelines to

determine specific actions that can be implemented by the Federal government to encourage long-

term job growth in Western New York.

 

5) While government cannot create jobs, it can provide employers with incentives to do so. A first

start is a $2500 tax credit for each job created. This is a small first step toward reshaping

government into a role of incentivizing growth and capital investment rather than discouraging it.

 

We have to unleash capitalism again and the government needs to encourage growth through tax cuts and

incentives. In short, if government begins to take steps to get out of the way, the economy will begin to

improve and jobs will follow both here and nationwide.”

 

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