‘Clearly the Economic Policies That Have Been Implemented in Washington Are Failing,’ Says Regalia
WASHINGTON, D.C.—U.S. Chamber of Commerce Chief Economist Dr. Martin Regalia issued the following statement on the August employment report:
“For yet another month the economy created a paltry number of jobs. The unemployment rate dropped because 368,000 people left the workforce. The participation rate in the jobs market is at a 30-year low. Clearly the economic policies that have been implemented in Washington are failing. These numbers virtually assure that the Fed will try to bail out the economy with yet another round of monetary easing.”
WASHINGTON, D.C. – Karen Harbert, president and CEO of U.S. Chamber’s Institute for 21st Century Energy, today issued the following statement regarding a decision by the U.S. Circuit Court of Appeals for the District of Columbia to vacate the Environmental Protection Agency’s Cross-State Air Pollution Rule:
“Today’s decision is good news for consumers and for the reliability of our electricity grid. It is notable that for the second time in two weeks, federal circuit courts have affirmed the primary responsibility of states—not the EPA—in determining how to meet air quality standards under the Clean Air Act.
Examines exemptions for criminal activity, systematic carve outs for unions
WASHINGTON, D.C.—The U.S. Chamber of Commerce’s Workforce Freedom Initiative today released a new study: “Sabotage, Stalking and Stealth Exemptions: Special State Laws for Labor Unions,” spotlighting unusual state laws that uniquely benefit labor unions. The study highlights numerous exemptions from criminal statutes, as well as policies that provide structural favoritism toward labor unions in the states with the highest union density.
WASHINGTON, D.C.—Following the U.S. Chamber of Commerce’s effort last week in four key states, today the Chamber will target four additional Senate battleground races across the country. Five new ads running in Florida, Montana, New Mexico, Ohio and Wisconsin will highlight Senate candidates’ positions on issues critical to the nation’s economic recovery like health care, regulation, energy production and taxes. The Chamber’s unprecedented voter education efforts will continue over the next several months.
Days Before 2-Year Anniversary of Dodd-Frank, Report Underscores Need for Thoughtful Implementation of Sweeping Legislation
WASHINGTON, D.C.—The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness (CCMC) today released “The Economic Consequences of the Volcker Rule,” which examines the numerous unintended, but nonetheless harmful, effects of the current Volcker Rule proposal, particularly on Main Street businesses.
The analysis, authored by Washington University Finance Professor Anjan Thakor, surveys existing academic research and empirical evidence and reveals that restrictions imposed under the Volcker Rule proposal will extend beyond Congressional intent to impact both financial and non-financial businesses by:
WASHINGTON, D.C. — The U.S. Chamber of Commerce recently offered on the enforcement coordination of the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) in order to provide clarity for both businesses and consumers. In a letter to Treasury Secretary Tim Geithner and FTC Chairman Jon Leibowitz, the Chamber urged the CFPB and FTC to expedite the drafting of a memorandum of understanding (MOU) to avoid overlapping, duplicative, and conflicting activities between the two agencies.
WASHINGTON, D.C. — As part of the Project on Regulatory Reform, the U.S. Chamber of Commerce today hosted former Governor and Senator Evan Bayh and former White House Chief of Staff Andy Card to preview the launch of their bipartisan, nationwide tour to educate Americans on the need to restore balance, restraint, and common sense to the regulatory process.
WASHINGTON, D.C. — Amidst growing budget deficits and a slow economic recovery, governors are finding success in attracting businesses and growing their economies through redesigning government, curbing spending, modernizing the tax system, and eliminating onerous regulations, according to a study released today by the U.S. Chamber of Commerce. The second Enterprising States study highlights specific strategies that all 50 states are employing to remain competitive, restore the jobs, and drive economic growth.
WASHINGTON, D.C. – Last week, the U.S. Chamber of Commerce applauded the U.S. Supreme Court’s decision that U.S. securities laws do not allow private individuals to sue service providers such as lawyers, accountants, and investment advisers, for allegedly false or misleading statements made by others. The case is Janus Capital Group, Inc., v. First Derivative Traders.
WASHINGTON, D.C. — Following last week’s report that 54,000 new jobs were created in May, the U.S. Chamber of Commerce’s Chief Economist, Dr. Martin Regalia, issued the following statement:
“While we don’t want to make too much out of one data point, the latest jobs report is a clear indication that the economy has hit a slow patch. The economy lost some steam in the first quarter of this year and this slowdown is now being felt in the labor market. In addition to the weak job gains, the unemployment rate rose for the second consecutive month.”
WASHINGTON, D.C. — Following a meeting with more than 60 business leaders, South Carolina Governor Nikki Haley, and several Members of Congress, the U.S. Chamber of Commerce and other leading trade associations expressed serious concern with the National Labor Relations Board’s (NLRB) complaint against Boeing.
“The precedent that the NLRB is attempting to establish here is so fundamentally unsound and troublesome that it cannot be ignored,” said Randy Johnson, senior vice president of Labor, Immigration, and Employee benefits for the U.S. Chamber. “The board has chosen to adhere to an ideological agenda rather than sound economic and labor policy and the ramifications could be catastrophic for American job creators.”
WASHINGTON, D.C. – With the price of gasoline rapidly rising, the U.S. Chamber’s Institute for 21st Century Energy is stepping up efforts to support increased domestic energy production.
The Chamber is supporting a suite of three bills in the House of Representatives designed to increase domestic oil and natural gas production. In addition to its own letter supporting the bills, which were introduced by Representative Doc Hastings (R-Wash.), the Chamber has generated over 18,000 letters from individuals and businesses across America in support of the legislation.
WASHINGTON, D.C. — At a press roundtable yesterday, U.S. Chamber of Commerce President and CEO Thomas J. Donohue joined Margaret Spellings, former Secretary of Education and current president of the U.S. Chamber’s Forum for Policy Innovation, to release a “Statement on Reauthorizing the Elementary and Secondary Education Act (ESEA): Guidelines for Strengthening the Law.” These principles will strengthen and update ESEA, better known as the No Child Left Behind Act (NCLB).
WASHINGTON, D.C.—As part of the U.S. Chamber of Commerce’s ongoing efforts to promote clean energy technologies, the Institute for 21st Century Energy today outlined the Chamber’s long-standing support for a quasi-governmental agency dedicated to the financing and deployment of clean energy projects at a Senate hearing.
Christopher Guith, vice president for policy at the Energy Institute, testified today in favor of a Clean Energy Development Administration (CEDA) as a policy tool which would help inject capital into clean energy projects without further burdening taxpayers. The Energy Institute first recommended such an agency in our Blueprint for Securing America’s Energy Future, released in 2008.
by Thomas J. Donohue
Last week’s announcement by Standard & Poor’s that it was cutting the outlook on our nation’s long-term rating from stable to negative for the first time in 70 years was a cold, hard reality check—we need to get our fiscal house in order sooner, rather than later, or suffer the consequences.
WASHINGTON, D.C. — U.S. Chamber of Commerce Senior Vice President for Labor, Immigration, and Employee Benefits, Randy Johnson, issued the following statement today expressing grave concern over a recent complaint filed by the National Labor Relations Board (NLRB) against The Boeing Company based on a decision to build a new airplane manufacturing plant in Charleston, South Carolina. Boeing’s plant is nearing completion and will create thousands of new American jobs. Existing construction alone has already created more than 1,000 jobs in South Carolina. The NLRB has alleged that Boeing violated the National Labor Relations Act in discriminating against the International Association of Machinists and Aerospace Workers by not instituting this new manufacturing in Puget Sound, Washington, and has demanded that the work that is, and will be done in Charleston, be ended.
WASHINGTON, D.C. — U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement in response to the President’s speech today on the debt and deficit:
“We are pleased that the President has moved beyond his original budget proposal and recognized that meaningful budget reform must entail curbing our excessive and unsustainable spending. However, we believe that our long-run fiscal policy must include real reform of Medicare, Medicaid and Social Security as well as curbs to discretionary spending.
WASHINGTON, D.C.—Yesterday the U.S. Chamber of Commerce hosted a half-day summit with the US Business Leadership Network® (USBLN®) highlighting employers’ efforts to hire and retain individuals with disabilities and releasing a joint booklet that offers strategies for businesses to create a more inclusive workplace, marketplace, and supply chain.
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.
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.
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.
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.”
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.”
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.
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.
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.
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.”
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.
WASHINGTON, D.C.—At an event Monday focusing on the issues and timeline surrounding businesses complying with the new health care law, the U.S. Chamber of Commerce unveiled its new detailed primer entitled, “Critical Employer Issues in the Patient Protection and Affordable Care Act,” to guide employers through the process of transitioning their benefits to meet the terms of this new law.
WASHINGTON, D.C.—The U.S. Chamber of Commerce honored 230 lawmakers with its annual Spirit of Enterprise Award today on Capitol Hill for their support of pro-growth legislation during the first session of the 111th Congress. Republican U.S. Senator Richard Burr and Democratic Congressman Mike McIntyre were among the honorees.
“The lawmakers we honor today have supported the private sector and job growth through these difficult times,” said Thomas J. Donohue, president and CEO of the U.S. Chamber. “They have demonstrated great courage and we commend them.”