Bakersfield Californian: Kevin McCarthy: "Government Getting In The Way Of Prosperity"
As some made predictions about a double-dip recession this week, I believe we can bring America back stronger than ever. I am continuing to listen to small business owners and entrepreneurs locally and around the state on ways to grow the economy and create an environment for job creation.
On Tuesday, I sat down with Silicon Valley innovators at Facebook and had a discussion with entrepreneurs at Stanford University. We talked about the need for fundamental tax reform. Over the past 20 years, every industrialized country except the United States has lowered its corporate tax rate, according to the Heritage Foundation, and we currently have the highest corporate rate in the industrialized world -- secondly only to Japan. In today's global marketplace, how can we expect our businesses to compete with an uncompetitive tax structure?
On Friday, I listened to local business leaders in Ridgecrest discuss the economic challenges they face, and heard stories of their struggles under onerous government regulations.
We must take action to inject some confidence into the private sector. And that means cutting red tape, reducing our crushing debt and deficit and fighting for lower taxes and less regulation so our local small businesses have the confidence to expand and hire.
My colleagues and I are fighting to make this happen. Our efforts to cut spending and reduce our debt and deficit levels -- which economists agree are key ways to get our economy back on track -- are just ramping up. And last month, we introduced a specific plan to help create jobs.
The Plan for America's Job Creators would ease regulatory burdens on American businesses by requiring congressional approval for any proposed federal government regulation that would have a significant impact on the economy; make reforms to our tax code; and pass the three pending free trade agreements with Colombia, Panama and South Korea. It is estimated that passage of these three trade agreements could increase American exports by more than $10 billion and create more than 250,000 jobs.
Our plan also maximizes America's domestic energy production using our "all of the above" energy approach that supports all forms of domestic energy production. California's 22nd District is a perfect example of this approach, which would help increase investment locally and help get people back to work. My colleagues and I are listening to the employers in our communities and using that feedback to lead the way to a stronger economy.
This week, we had several new summer interns come on board. Rane Cravens and Jacob Frost, both of Liberty High School, are currently working in the Bakersfield office and Bobby Bellovin and Stu McCormick both started in the D.C. office. As summer looms ahead, we also recognize the many graduates in our community, and I want to congratulate them all. Thirteen recent graduates from our district will be going to serve our nation this fall at one of the U.S. Service Academies, and Friday I will be hosting them for a reception at my Bakersfield office.