U.S. Chamber responds to President Obama’s economic speech

WASHINGTON, D.C. – Bruce Josten, Executive Vice President for Government Affairs for the U.S. Chamber of Commerce, issued the following statement in response to President Obama’s economic speech today:

“The best way to get this economy growing fast enough to create jobs and drive the unemployment rate down is to ensure that taxes do not increase for consumers and businesses. Leaving income in the hands of consumers is the best way to encourage spending and leaving income in the hands of businesses both large and small is the best way to spur investment and job creation.

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WASHINGTON, D.C. — Following Friday’s report that only 67,000 new jobs were created in the private sector in August, the U.S. Chamber of Commerce’s Chief Economist, Dr. Martin Regalia, issued the following statement:

“The employment data released today shows another month of anemic job growth in the private sector and an outright decline in the total number of jobs.

“While this data was better than expected, it is a sad day when such a dismal number exceeds our expectations.

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WASHINGTON, D.C. — David Hirschmann, president and CEO of the U.S. Chamber’s Center for Capital Markets Competitiveness, recently issued the following statement on the SEC’s adoption of a so-called “proxy access” rule:

“This special interest-driven rule is a giant step backwards for average investors.  Using the proxy process to give labor union pension funds and others greater leverage to try to ram through their agenda makes no sense.  Instead of giving some investors front-of-the-line passes, the SEC should be focused on advancing the interests of all investors, including retail investors. The Chamber will carefully review the rule that was approved today and will continue to fight this flawed approach using every method available.

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by Randel Johnson and James Gelfand

If you were dismayed by the backroom deals and political horse trading that brought you the massive health care and financial reform bills, hold on to your hats—you ain’t seen nothing yet!

Americans have long been fascinated—and often disgusted—by how Congress passes laws. Many citizens became irate when they learned that most members of Congress hadn’t even read the health care bill, which clocked in at about 2,300 pages. Speaker Nancy Pelosi said famously, “We need to pass the health care bill to find out what’s in it.”

Read More About - Opinion: Government Knows Best – Federal Agencies Plow Ahead Without Public Input »

WASHINGTON, D.C. — As businesses struggle with an increasingly uncertain economic climate and millions of Americans struggle to find work, experts at the U.S. Chamber of Commerce’s annual Labor Day briefing today explored the impact that pending tax increases and burdensome regulations could have on job creation.

“The most important thing Washington can do for the economy is to take action immediately to prevent massive tax increases on America’s consumers and businesses,” said Dr. Martin Regalia, chief economist for the U.S. Chamber.  “Providing certainty for employers will go a long way toward restoring our economy and creating jobs for the American people.”

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WASHINGTON, D.C. — The U.S. Chamber of Commerce and the American Council on International Personnel (ACIP) unveiled a joint study today on the importance of opening America’s doors to highly educated workers who promote innovation and U.S. competitiveness. The report, “Regaining America’s Competitive Advantage: Making Our Immigration System Work,” was commissioned to provide a clear analysis of current high-skilled immigration programs and proposals from the perspective of employers, who are America’s job creators. The analysis examines the employer-based high-skilled immigration system and offers recommendations for fixing existing problems in the system through regulatory and legislative means.

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WASHINGTON, D.C.—Dr. Martin Regalia, chief economist for the U.S. Chamber of Commerce, today issued the following statement on the July jobs numbers:

“While the private sector continued to add jobs at a paltry rate in July, the numbers were clearly insufficient to drive the unemployment rate down or to re-employ those workers displaced during the recent downturn.

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WASHINGTON, D.C.—The U.S. Chamber of Commerce today joined with the National Federation of Independent Business (NFIB) and the American Action Network to host a forum entitled “Behind the Curtain: The Health Care Law’s Impact on Small Business,” which brought together small business owners, policy experts, benefits consultants, and members of Congress to discuss the impact of the new health care law. At the event the Chamber launched a new website—www.HealthReformImpacts.com—to serve as a centralized location for the business community to learn about the implementation of the new law and to share their perspectives on how the law impacts their businesses.

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WASHINGTON, D.C.—A flawed permitting process for energy projects is the main contributor to roughly $560 billion in lost direct and private investment and 250,000 jobs, according to testimony delivered today by U.S. Chamber Senior Vice President William L. Kovacs before a joint meeting of the Senate and House Western Caucuses.

“The ‘Not In My Back Yard’ folks have abused a flawed permitting process to block 381 energy projects, nearly 44% of which involve renewable energy,” said Kovacs. “They have organized local opposition, changed zoning laws, opposed permits, filed lawsuits, and bled projects dry of their financing. It’s like an anchor on economic growth and job creation.”

Read More About - U.S. Chamber: Cost of ‘Not In My Back Yard’ at $560 Billion and 250,000 Jobs »

WASHINGTON, D.C. — David Hirschmann, president and CEO of the U.S. Chamber of Chamber’s Center for Capital Markets Competitiveness (CCMC) made the following statement as the financial regulatory reform legislation moves to full Senate consideration:

“As we move to the next phase of financial regulatory reform, we call on the full Senate to put short-term politics aside and focus on getting financial regulatory reform done right. This legislation will impact job creation and the future of our economy both on Main Street and Wall Street. The Senate should not miss this chance to fix this flawed bill.

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