Careers for the 21st Century

Careers for the 21st Century
By Tom Cole
May 10, 2004

This year Congress is taking advantage of an opportunity to make sure our economy stays on the path to recovery. The Gross Domestic Product (GDP) has continually increased over the past 10 quarters, but there is still work to be done. Congress and the President are committed to ensuring that every American who wants a job can get a job. Band-aid solutions might help in the immediate future, but true economic reforms are the only way to ensure future job growth.
Our job in Washington is to set the right framework for the business community, the true engine for job growth in this country. The government's role is to foster a fruitful economic environment and provide a framework for business growth. This is the key to helping Americans get back to work. We are seeking continued job growth, but more importantly career opportunities that will make working more enjoyable-not just a pastime between paychecks.
Congress is committed to creating an atmosphere that generates career opportunities and economic vitality. The following topics are other components of our economy that Congress will address this summer in order to set the right atmosphere for continued economic prosperity across the country.
Health Care Security
Employers are burdened by the skyrocketing cost of providing health care for their employees, which keeps them from hiring more American workers. I am committed to helping small business provide health care for their employees. This is why I am a cosponsor of H.R. 660, The Small Business Health Fairness Act, to give small businesses access to the same health coverage options for their employees as big corporations. This legislation passed the House in June. I am also a cosponsor of H.R. 1117, The Health Care Freedom of Choice Act. This legislation would give individuals a 100% tax deduction for any expenditure on medical expenses.
Lifelong Learning
In order to compete in a global economy that expands daily, American workers need to strengthen their skills and engage in lifelong learning. Today millions of low and middle-income students face the possibility of being denied access to a higher education. This year Congress will debate the College Access & Opportunity Act that will restore fairness and expand access for low and middle-income student. I believe it is important to give our children the resources to compete successfully in competitive markets.
Tax Relief and Simplification
To sustain economic recovery, we need make our tax code simpler, fairer and more efficient. This is why I am a cosponsor of H.R. 3215, legislation that would establish a commission on tax reform to propose a fundamental overhaul of the tax code. The current system is unfair, needlessly complex, and an obstacle to job creation and economic growth.
Since the 2003 tax cuts were implemented, economic growth has exceeded four percent in each quarter and more than 1.1 million jobs have been created. This is the strongest continuous economic growth in 20 years. The only way to continue this trend is to make the tax cuts permanent. Entrepreneurs plan for the future, if they believe their taxes will increase, consuming more of their revenues, they will hire fewer additional workers. The United States House this year has already passed legislation that ensures that the marriage penalty tax relief is made permanent and that the Alternative Minimum Tax (AMT) will not expire at the end of this year.
Energy Self-Sufficiency and Security
When energy sources and prices are unpredictable, employers are less likely to invest in new employees. According to the U.S. Department of Commerce, America loses 12,389 jobs for every $1 billion we spend on imports. That means, at today's oil price's, America is sending more than 1.7 million jobs overseas for oil every year. In 2003 alone, the United States sent more than $100 billion overseas to import oil from foreign nations. An estimated 85,000 jobs have been lost by U.S. chemical manufacturers since natural gas prices began rising in mid-2000. If natural gas prices are not affordable, more of our production facilities will be forced to leave the country. With my support, the House has passed a compromise energy bill (HR6) but Senate obstructionists are trying to kill the bill.
Ending Lawsuit Abuse
A few personal injury lawyers and their clients have taken the American legal system to an all-time low. Fraud and abuse in our legal system must be eliminated. I have cosponsored H.R. 5, The HEALTH Act, legislation to reform our medical liability system. It passed the House in March 2003, and I am hopeful that it will pass the Senate as well. The House also passed the Class Action Fairness Act (H.R. 1115) and the Personal Responsibility in Food Consumption Act. By implementing common-sense class action, asbestos, medical malpractice and other tort reform measures we can free our courts from frivolous lawsuits while creating new jobs.