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Thursday, May 22, 2014

Developing jobs in the U.S. of A.

The American Research Competitive Act has been on the books of American law for over 20 years. However, every year it expires, so Congress has to take the time to renew it. In the spirit of sensibility, House Republicans have introduced a bipartisan bill that would make the extension permanent.

But what does that bill really mean for hardworking Americans? Chairman of the Science, Space, and Technology Committee Lamar Smith (R-TX), and Rep. Kevin Brady (R-TX) explained this week in Forbes and The Hill:

1. It provides incentives for companies of all sizes to invest in research and development, which is key for American innovation and job growth. More than half of the businesses that take advantage of this are small businesses - the backbone of America’s economy.

The ARC Act strengthens and modernizes the tax credit by increasing the alternative simplified credit rate from 14 percent to 20 percent and making it easier for small, mid-size and large companies to benefit.
-Rep. Kevin Brady 

2. Making this extension permanent would give businesses the confidence and security needed to invest in long-term research and development.

U.S. companies continue to hold off on investing during this stagnant economy. They have little confidence in this disappointing economic recovery, the weakest since World War II, and no certainty that their long-term investments will pay off due to an ever-changing tax code.
-Rep. Kevin Brady

3. There are two types of research and development this tax extension applies to: basic research and applied development. Basic research is the fact-finding area of development, where businesses discover the problem, what consumers want, and how it can be fixed. Applied development is the product creation portion of innovation, where American’s create products that change the world.

Basic research is discovery science aimed at expanding knowledge. It is the precursor to technological advances. Applied R&D then uses the knowledge gained through basic research to invent new products and technologies.
-Chairman Lamar Smith

4. Since World War II, the United States has led the world in R&D spending, and subsequently led the world in new discoveries and advanced products. However, we have since fallen behind.

“In fact, our share of global research and development has fallen to 31 percent in 2014, from 39 percent in 1999. During that time, China’s share has increased fourfold, and experts expect China to surpass the United States by 2022.”
-Rep. Kevin Brady 

5. The R&D tax extension will help America regain control as the primary leader in tech and science innovation, creating jobs and economic security for individual Americans.

Our industries and our workers have continued to be the leaders in aerospace, the Internet, computer science, health care, engineering and a host of other important areas.
-Chairman Lamar Smith 

House Republicans are passing bills to create an America that works. By providing incentives to build and innovate, our economy is strengthened,  and most importantly, more Americans are put back to work.


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Wednesday, May 21, 2014

Committee Spotlight: Chairman Darrell Issa, House Oversight Committee

On May 9, the House Oversight and Government Reform Committee convened a hearing examining employee misconduct at the EPA, and allegations that the agency’s Office of Homeland Security is actively obstructing its Office of Inspector General from conducting investigations.  In this week’s Committee Spotlight, Chairman Darrell Issa (R-CA) provides a recap of the hearing, plus key clips of witness testimony.


Read the Hearing in its entirety.

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Tuesday, May 20, 2014

Half-mast for our heroes

Today, flags at the United States Capitol were lowered to half-mast to honor federal, state, and local law enforcement officers who have died in the line of duty.

“This is a day to serve those who serve us,” said Speaker of the House John Boehner (R-OH). “Let us all take time to remember the fallen, reflect on the sacrifices their families have made, and give thanks or the men and women who put themselves in harm’s way every day.”

NatPoliceWeek-2Officer Josh Cooper and Police Officers from the Dallas Police Department stand in front of the Capitol in Washington, D.C. They joined  hundreds of Americans in celebrating the lives and service of Law Enforcement Officials on the Washington Mall, March 15th, 2014.


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Monday, May 19, 2014

House Republicans are doing work – and encourage Senate Dems to do the same

In this week’s Republican address, the authors of more than a dozen House-passed jobs bills call on President Obama and Senate Democrats to act and match the House’s focus on the economy.

Each of these bills are aimed at creating jobs, strengthening the American economy, and easing the squeeze for hard-working Americans. These are only a few of the 232 bills stuck in the Senate, and as Rep. John Kline (R-MN) said, “More are in the works.”

For House Republicans, the focus remains on building a stronger economy and a better America. “It’s time for President Obama and Senate democrats to step up and make that their priority, too,” said Kline.

Rep. Dave Camp (R-MI): H.R. 890 passed to “Protect reforms that help thousands of welfare recipients find jobs and lift their families out of poverty.”

Rep. Virginia Foxx (R-NC): H.R. 803, helps “More American workers gain the skills and education necessary to compete for in demand jobs.”

Rep. Lee Terry (R-NE): H.R. 3 approves the building of The Keystone XL Pipeline, and “supports more than 42,000 direct and indirect jobs.”

Rep. Martha Roby (R-AL): H.R. 1406 will “Allow private sectors to take advantage of the comp-time benefits that public employees enjoy.”

Rep. Mark Amodei (R-NV): H.R. 761 targets “The development of strategic and critical minerals used to support American and manufacturing jobs.”

Rep. Bill Flores (R-TX): H.R. 2481 aimed at “Providing our service members with the tools that will help them find good jobs when they return home.”

Rep. Doug Lamborn (R-CO): H.R. 1965 will “Make it easier to develop resources that will lower energy costs and reduce dependency on foreign oil.”

Rep. Bob Goodlatte (R-VA): H.R. 3309 will “Promote innovation and job creation by helping businesses defend themselves from abusive patent litigation.”

Rep. George Holding (R-NC): H.R. 2804 passed to “Reign in red tape and increase transparency of new regulations, so small businesses can better plan ahead.”

Rep. Rodney Davis (R-IL): H.R. 3474 will “Incentivise small businesses to hire more of our veterans.”

Rep. Bill Johnson (R-OH): H.R. 2824 passed to “Fight back against the administration’s war on coal that’s destroying jobs and causing electricity prices to skyrocket.”

Rep. Todd Young (R-IN): H.R. 2575 will “Restore working hours and wages that millions of part-time employees lost because of Obamacare.”

Rep. Kevin Brady (R-TX): The recently passed H.R. 4438 will “Permanently extend research and development tax credit, so we can keep good ideas and good jobs right here at home.”

Rep. John Kline (R-MN): Also recently passed, H.R. 10 intends to “Strengthen charter schools and encourage more choice and opportunity through our education system.”


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Sunday, May 18, 2014

House Republicans – helping small businesses succeed

This week, House Republicans celebrated small businesses and the hardworking Americans who make these economic engines run across the country. The contributions small business employees make to the American economy are incredible – almost 60 million jobs - and over 25 million firms. However, the current status of our American economy does not reciprocate in benefits to these hard-working Americans.

Small business job growth is strangled by unnecessary regulation, complex and increasing taxes, and high energy prices. Obamacare is increasing health care costs and preventing companies from creating new jobs.  House Republicans have introduced, and passed, multiple bills that will make it easier for small businesses in America to grow and expand.

Problem: Small businesses bear a regulatory cost of $10,585 per employee, which is 36% higher than the cost of regulatory compliance for large business.
Solution: House Republicans have passed H.R. 2804, which requires agencies to write regulations with small businesses in mind, imposing the least cost necessary and communicating the status and cost of new regulations.

Problem: The Obama administration is very likely generating the most regulations in history, issuing 157 new major rules at a cost to Americans approaching $73 billion annually.
Solution: H.R. 367, passed by House Republicans in August 2013, requires regulations with more than a $100 million impact on the economy to be approved by Congress before taking affect – checking and balancing the power of the President.

Problem: The Small Business Administration (SBA) reports that the average tax compliance cost per employee for small businesses is almost three times the per employee cost for the average large firm.
Solution: Small businesses create 16.5 times more patents than large firms. House Republicans recognize and appreciate this innovation, and have passed bills like H.R. 4438, which provide incentives for the research that small businesses excel in to create more jobs.

Problem: The median commercial sector industry has a small business energy cost per sales ratio that is 2.7 times greater than that of larger businesses, which hinders their ability to compete during times of elevated energy prices, according to the SBA Office of Advocacy.
Solution: The Keystone XL Pipeline will not only create new jobs, but will reduce energy prices for all Americans, providing the type of relief that small businesses need to succeed. House Republicans have voiced their support for the project, yet continue to wait for the President and Senate to act.

Problem: A recent National Small Business Association health care survey shows an overwhelming majority of small companies have suffered health insurance cost increases. Ninety-one percent of small businesses reported increases in their health care premiums. One in four of these increases exceed 20%.
Solution: House Republicans have passed multiple bills to protect Americans from the negative impacts of Obamacare. We remained focused on implementing patient-centered, high-quality, and low-cost options for health care.

In order for small businesses to grow, reforms must be made in our economy and government. The House Republican plan #4Jobs encompasses working solutions for regulation, taxes, health care and more. While dozens of our bills remain stuck in the senate, House Republicans remain advocates for small business workers - doing all we can to help build an America that works for small businesses, as hard as they work for America.


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Sunday, May 4, 2014

#BostonStrong

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#BostonStrong

House Republicans reflect on the one-year anniversary of the Boston Marathon bombings.

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Saturday, May 3, 2014

Happy Tax Day?

In celebrating everyone’s least favorite, forced federal holiday, let’s take a look at what makes our tax code so… special.

It’s lengthy.
Today’s tax code contains almost four million words.

It’s time consuming.
Individuals and businesses spend 6.1 billion hours a year on tax filings. For individuals, the estimated average time burden for all taxpayers filing a Form 1040, 1040A, or 1040EZ is 13 hours.

It’s expensive.
Tax compliance costs are 65% higher for small businesses than big businesses, costing small-business owners $18-$19 billion per year. Paperwork alone comes to $72.24 per hour.  For larger, corporate-tax payers, America’s is the highest in the world.

It’s wasteful.
U.S. taxpayers pay $431.1 billion annually in compliance costs, known as “the complexity tax.”

It’s complicated.
There are over 800 currently active tax forms. And to figure these forms out, America has 1.2 million paid tax preparers in the United States. That’s more than law enforcement officers and professional firefighters combined.

It’s unfair.
The percentage of Americans who think their income taxes are fair is at its lowest since 2001. The “tax gap” –the amount of taxes due but not paid—is approximately $400 billion per year.

Share your least favorite part of the tax code:

tax3

taxday2

taxday


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