Thank you for contacting me in regard to the job market, its effects on our economy and the American taxpayer. One of the most significant challenges we face as a nation is an overwhelming debt and a stagnant economy. We must immediately address these issues in order to put more people to work and achieve a fiscally secure future, including changes to our tax code and regulatory structure through common sense reforms.
As of August 2011, the Bureau of Labor Statistics (BLS) has put our unemployment rate at 9.1%, up from 7.8% in January of 2009. Jobs will only be created when job creators feel confident in the economic climate. What America needs is more taxpayers, not more taxes which can only be achieved when businesses are assured the economy is stable and begin to hire again.
Our overwhelming debt and growing deficit are being exacerbated by a complicated tax code. Our economy can only grow if we increase the availability of jobs and attract investment to promote the growth of business. In order to accomplish this, we must reform our tax code. Tax reform must include a simpler code and lower taxes across the board.
Unfortunately, taxes have increased by almost $700 billion since January 2009. Reliance on these anti-competitive tax increases will cause more economic uncertainty, stifle job creation and keep America on a path toward a diminished future, at a time when unemployment is high.
In order to work toward steady job growth, we must take tax increases out of the conversation in Washington. Unless Congress acts expeditiously, every taxpayer will see unprecedented tax increases in 2013. We can encourage investment in the United States for both foreign and domestic businesses and establishing an atmosphere where job creation is easier than it is under our current economic climate by taking tax hikes off the table.
As you know, President Obama addressed a joint session of Congress and proposed the "American Jobs Act". This plan fails to address the fundamental challenges we face in regard to job creation. The president's answer to our nation's unemployment rate is an additional $447 billion in spending and $467 billion in tax increases. At a time when spending is unsustainable, our focus should be on job creation in the private sector.
I am also concerned about the unprecedented increase in federal regulations imposed on Florida from Washington, D.C. For example, the Environmental Protection Agency (EPA) is moving forward with a variety of new, top down mandates that will act as a national energy tax and hurt the economy in the process. In total, the Administration has added over 50,000 new pages of regulations to the books this year alone, forcing employers to focus on government paperwork – not on creating jobs at a time when unemployment remains above nine percent. Instead of allowing agencies to continue enacting policies without Congressional approval, I strongly believe Congress should enact pro-growth regulatory reform that ensures agencies take into account the economic costs of new regulations on the economy. I have cosponsored a variety of bills that would help overhaul our regulatory structure – notably, the Regulations From the Executive in Need of Scrutiny (REINS) Act, which requires Congress approve regulations costing the economy $100 million or more per year before they go into effect. Along with an overhaul of our outdated tax system, regulatory reform is an essential part of growing our economy and creating jobs.
I was elected on pro-growth economic policies that would reform our tax code and regulatory structures to help create jobs. The American people have every reason to be disappointed by Congress' unwillingness to fix our complicated tax code and our burdensome regulatory structure. As Florida's junior senator, I will keep your thoughts in mind as I work to grow our economy and assist in the creation of jobs.