The debate over the best way to create job growth will ramp up again soon in Washington, with competing proposals from President Obama and U.S. House Republicans. House Majority Leader Eric Cantor has signaled the key pieces of the GOP plan, as Susan Ferrechio reports for The Washington Examiner.
Cantor on Monday outlined a series of bills the House will take up in September, including the repeal of regulations Republicans deem burdensome to businesses. Key among those are new standards and rules about to be implemented by the Environmental Protection Agency that are aimed at curbing pollution from power plants, farms and industry.
The Republican agenda will also take aim at the National Labor Relations Board with legislation that responds to the NLRB’s recent decision to try to block Boeing from moving aircraft production to a new plant in South Carolina. The proposed bill, “Protecting Jobs From Government Interference Act,” would prohibit the NLRB from restricting where a company can move production, Cantor said in the memo.
The GOP agenda will also include a huge tax break for small businesses that would allow them to take a tax deduction equal to 20 percent of their income. Cantor said this tax cut would “free up funds for small-business people to retain and hire new employees, and reinvest in and grow their businesses.”
Republicans say they want more robust tax breaks than the payroll tax cut that Obama will likely include in his jobs plan.
