ConservativeHome's Big Ideas blog

From tax reform to trade agreements, Sen. Rob Portman offers seven 'easy' steps for economic growth

Natalie Gonnella
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Amid Washington's ongoing debt drama and June's dismal unemployment numbers, in his latest op-ed freshman Senator Rob Portman is challenging his congressional colleagues to get serious about economic recovery, outlining seven 'easy' ideas to boost private sector investment and job growth in America.

From tax reform to pending free trade agreements, here's a look at Senator Portman's common sense solutions for economic stability:

1. Energy independence: Washington should adopt a pro-growth national energy policy. Let’s attack our addiction to foreign oil with conviction. The plan must include using less energy through smart conservation and finding more energy by aggressively and responsibly developing our own resources. Washington shouldn’t pick winners and losers, but should remove government barriers that raise costs and threaten jobs.
2. Tax reform: Let’s start the process immediately to reform the tax code, something economists across the spectrum agree will create economic growth and jobs. Eliminating preferences and lowering tax rates will enhance our competitiveness, lead to a more efficient allocation of resources and ensure a tax code that’s fair for everyone, not just those who can manipulate it.
3. Cut the red tape: Let’s go beyond the rhetoric and enact common-sense cost-benefit analysis that separates the necessary regulations from those that kill jobs without justification, and insist that agencies use the least burdensome alternative.
4. Pass pending free trade agreements: With 95 percent of the world’s consumers living outside the United States, giving our workers, farmers and service providers fair access to those markets should be an urgent national priority.  
5. Reform and modernize our job training programs: Part of the answer is an improved education system that prepares our children for the careers of tomorrow, but Congress can also act immediately to help retrain today’s workers by revamping the $18 billion spent annually on federal training programs. Those already in the workforce deserve better than the bureaucratic complexities and red tape of 44 different federal employment and training programs administered by nine different agencies. 
6. Reduce costs, add choices and put consumers in charge: Many of us believe this requires repealing the new healthcare law, which will cost trillions of dollars and kill as many as 800,000 jobs. But in the meantime, let’s reduce the costs of healthcare and add jobs by expanding choices and putting consumers in charge, through expanding health savings accounts, allowing people to purchase health insurance across state lines and reining in frivolous lawsuits and other medical malpractice costs.
7. Cut and cap: Let’s reduce federal spending now and cap the growth of government. Obama was right when he said last week that dealing with our record debt and deficits would give businesses more certainty and lead to job expansion. 

Keeping their "Pledge": GOP introduces new plan to promote job creation and economic growth

Natalie Gonnella
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House Republicans unveiled their growth focused agenda today, with a new plan that seeks to empower job creators by removing red tape, lowering taxes and and boosting trade to get the economy back on track, "so that Americans can do what they do best: create, innovate and lead."

Modeled on the the GOP's Pledge to America, in rolling out their vision House Republicans aim to address substantial economic challenges while fostering innovation, investment, and job growth without raising taxes.

With unemployment holding strong at over 400,000 for the seventh week in a row, here's a look at the key areas adressed in the GOP's agenda, and their ideas on growth focused solutions:

Empower small business owners and reduce regulatory burdens: In order to ease the regulatory burden on the economy and to promote job creation, [House Republicans} will approve legislation that requires a congressional review and approval of any proposed federal government regulation that will have a significant impact on the economy

Fix the tax code to help job creators: [House Republicans] will set the top tax rates at no more than 25% for job creating businesses.  This would level the playing field with our competitors and would help to generate investments and create American jobs allowing the U.S. to be more competitive in the global marketplace and attract business.

Increase competitiveness for American manufacturers: [House Republicans] will pass three pending free trade agreements with Colombia, Panama, and South Korea. This will be a shot in the arm for businesses small and large and will create jobs.  [House Republicans] will build on those successes by looking for other ways to expand market access for U.S. made products while vigorously enforcing our rights to protect American jobs from unfair practices by other countries. 

Encourage entrepreneurship and growth: [House Republicans] will modernize and improve the patent system to discourage frivolous lawsuits, expedite reviews, and provide better protection for job creating entrepreneurs...The House Judiciary Committee is reviewing our visa system to determine the needs of American employers and the reforms necessary to ensure that American businesses maintain their leading edge in innovation and technology development...There are two major programs that must be reauthorized next year by Congress to improve the FDA approval process: the prescription drug user fee program and the medical device user fee program....These two reauthorizations present an opportunity to bring transparency and consistency to the FDA approval process, and with that, more efficiency, growth, and American jobs.

Maximize domestic energy production to ensure an energy policy for the twenty-first century: House Republicans are taking immediate action through our American Energy Initiative by passing bipartisan legislation to expand energy exploration and production.  This will help create American jobs, grow our economy, and enhance our security

Pay down America’s unsustainable debt burden and start living within our means: [House Republicans] will work to control the federal deficit to assure investors and entrepreneurs that our nation’s elected leaders are finally getting serious about paying off the debt over time and will bring back confidence by supporting long-term economic growth.

The Republican Plan for America's Job Creators is available to view here.

Downsizing Washington in the 112th Congress - today's Hudson Institute symposium

Ryan Streeter

Today the Hudson Institute revisited the arguments in The New Promise of American Life, which Lamar Alexandar and Chester Finn published in the mid-1990s arguing for more devolutionary policies amidst much skepticism from statists. Nonetheless, the book achieved a great deal.

Today's event focused on the relevance of the book to the widespread public sentiment that, once again, we need to downsize Washington.

The Hudson symposium today includes Mr. Alexander, Bill Kristol from the Weekly Standard, Chris DeMuth, Kate O'Beirne, and Bill Shambra. 

Video clips of the event are here, and Alexander's opening remarks can be viewed here: