With a seemingly endless tide of federal regulations, persistent unemployment and stagnant job growth, and the passageof President Obama’s costly health care law, the Obama Administration has little more than a weaker economy andstymied jobs creation to show for its efforts to get things back on track. A lack of confidence in the tax and regulatoryenvironment going forward has bred an excess of uncertainty about the effects of federal policies, the opportunities for the private sector to create and sustain jobs, and the future stability of the U.S. economy. With the failed $787 billionstimulus plan doing little but growing the national debt, the Obama Administration’s plan for moving forward is yet morespending in the form of its half a trillion dollar jobs legislation that fails to take meaningful steps to address the recenteconomic downturn.Both Arizonans today and the generations to come deserve a concrete and sustainable approach to stimulating theeconomy and facilitating the private sector creating jobs. With further details below, Jeff Flake supports
moving forward with comprehensive tax reform, halting the Obama Administration’s regulatory overreach, taking advantage of readymade economic opportunities, ensuring the U.S. economy has the best and the brightest, jumpstarting domesticenergy development, and supporting free trade agreements and expanding exports.
Moving Forward with Comprehensive Tax Reform
The U.S. tax code, at 70,000 pages, is a drag on the economy that favors special interests and penalizes U.S. businesses and entrepreneurs. According to the Tax Foundation, Arizonans worked until April 10
of this year just toearn enough to pay off their total tax bill. High taxes kill jobs and reduce savings.
With the highest corporate tax rate in the world, corporate tax rates have to be lowered if the U.S. has any hope of retaining major manufacturers and convincing new businesses to form in this country. Lowering corporate taxes willhave a major impact on job creation as well as reducing the costs of goods and services that Arizonans buy every day.
Pro-growth tax reform that stops looming tax hikes, scraps our confusing tax code, and lowers rates for families and businesses will keep the U.S. competitive and provide a much-needed boost to the economy.
Jeff Flake supports comprehensive tax reform that would streamline the tax code by eliminating various taxloopholes, expand the base, and lower the rates. The U.S. tax code should be reformed to one typified by its fairness,simplicity, and competitiveness and the U.S. economy would benefit accordingly.
Halting the Obama Administration’s Regulatory Overreach
Whether it’s locking up a million acres in northern Arizona to new mining claims, requiring countless hours fromstate and local government to get off the hook for dust storms they can’t prevent or control, threatening to requireunnecessary pollution controls on the Navajo Generating Station that could shut it down and hike water rates acrossthe state, meddling in the financial sector with rulemaking after rulemaking, expanding federal jurisdiction over “water of the U.S.” to include just about everything, or exposing Arizona’s hotel industry to lawsuits for failing tohave permanent wheelchair lifts for every pool and spa, Arizona’s economy has been under the crushing thumb of theObama Administration’s persistent and apparently limitless regulatory overreaching.
It is impossible to simultaneously expect the private sector and small businesses to create jobs while also pursuingone of the most aggressive regulatory agendas in generations.
Arizonans need regulatory relief, not regulatory certainty. Jeff Flake supports calling a halt to, and placing amoratorium on, the Obama Administration’s seemingly unending appetite for job-stifling regulation.
Taking Advantage of Readymade Economic Opportunities
Positive steps toward getting the U.S. economy back on track can be as simple as taking advantage of readymadeopportunities for economic activity and jobs growth.
For example, embedded beneath 3,000 acres of U.S. Forest Service-managed land near Superior, Arizona is one of thelargest deposits of high-grade copper ore in North America. Since 2002, the Resolution Copper Company has soughta congressionally-approved land swap that would create 1,400 direct jobs and 2,300 indirect jobs throughout themine’s 40 year life and result in an estimated $61 billion in economic impact to the state of Arizona.