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House Republicans present job boosting proposal


House Republicans present job boosting proposal

Adam Russett May 26, 2011

When Republicans swept a number of valuable seats in the House this past November, they largely rode on the momentum of economic worries. The argument went that President Obama had focused so much on overhauling the healthcare system that high unemployment rates fell to to the background.

Now, Republicans in the House are coming forward with a proposal that they hope will attract the attention of those who voted them into the house, and others, besides – a plan that cuts spending, deregulates industries, boosts trade and raises private sector job growth.

"What we are trying to portray is this: We have said all along there are two tracks – the first is cutting spending and getting our spending in order, but that is just one piece of a bigger painting," House Majority Leader Eric Cantor (R-Va.) said, Politico reports. "The other half of the painting relies on economic growth to tackle our debt and create jobs."

Under the plan, corporations, individual Americans and small businesses would have their tax rates slashed to no more than 25 percent. Trade agreements would be approved between the U.S. and Colombia, Panama and South Korea. Domestic oil drilling plans would be put forward. And, most of all, spending would continually be cut.

Known as the Job Creators agenda, Republicans appear to be staying the course as they try to reduce the size of government and rein in the deficit.

"This is a plan for America’s job creators, this plan to make it easier for entrepreneurs and small businesses and families in America to see a better future through growth," Cantor said, according to The Hill.

The announcement comes on the same day that House Budget Committee Chairman Paul Ryan's budget proposal was struck down in the Senate.