GOP Taking Action on Two Bills to Stop Excessive Regulations, Help Address Sky High Unemployment Weighing Down America’s Economy
Next week, the new House majority will continue advancing its Plan for America’s Job Creators with action on two bills (H.R. 2250 and H.R. 2681) that will stop excessive regulations that have already cost hundreds of American jobs, and put thousands more at risk. As several of this week’s headlines demonstrate, the GOP’s plan for jobs is desperately needed to break the grip of persistently high unemployment that is dragging down America’s economy:
- “Number of Troubled Homeowners Rises, Federal Regulator Says.” “While mortgage delinquencies tend to increase during the second quarter, the OCC [Office of the Comptroller of the Currency] attributed the uptick in part to ‘a sluggish economy and elevated unemployment.’” (The Washington Post, 9/29/11)
- “Economy Grew at Weak 1.3 pct. Rate in April-June Period.” “The economy grew slightly faster in the spring than previously estimated but remained dangerously weak in the face of high unemployment and higher gas prices. … Even with the upward revision, the economy grew at an annual rate of just 0.9 percent in the first six months of the year. That’s the weakest six-month performance since the recession ended more than two years ago.” (Associated Press, 9/30/11)
- “Consumer Confidence Stagnates at Two-Year Low.” “Confidence among U.S. consumers stagnated in September near a two-year low as the share of households saying it was difficult to find a job climbed to the highest level in almost three decades.” (Bloomberg, 9/27/11)
- “Consumer Incomes Fall for First Time in 22 Months.” “Americans earned less last month, the first decline in nearly two years. With less income, consumers could cut back on spending and weaken an already-fragile economy. … The data offered ‘more evidence that households are in quite a bind,’ said Paul Dales, senior U.S. economist at Capital Economics. Employers added no new jobs in August and cut hourly earnings for the first time in more than three years.” (Associated Press, 9/30/11)
The House has passed more than a dozen bills - most of which have been blocked by the Democratic-led Senate - aimed at reversing Washington Democrats’ tax, spend and regulate agenda that has hampered economic growth and made it harder to create jobs. With passage of the these two additional bills, the new House majority will move that effort another step forward – protecting tens of thousands of American jobs. President Obama has acknowledged “the importance of reducing regulatory burdens and regulatory uncertainty, particularly as our economy continues to recover.” House Republican leaders have asked the President to put those words into action by seeking common ground with Republicans on commonsense, bipartisan proposals – such as H.R. 2250 and H.R. 2681 – that represent a balanced approach that will protect the environment without further impeding job growth. Learn more about these, and other GOP jobs bills at: http://Jobs.GOP.Gov.