A jobs plan for Nevada
After President Barack Obama introduced the latest iteration in a series of stimulus plans, the misnamed American Jobs Act, my colleagues on the other side of the aisle were quick to claim their priorities are now "jobs, jobs, jobs." That's welcome news, because as Nevada leads the nation in unemployment, no state needs a successful plan more than we do.
Such commitment to creating jobs suggests dedication to passing effective policies. So as we debate the best approach for moving our economy forward, I have just one question for President Obama: "Is this working?"
The track record would suggest, "no."
In January 2009, President Obama was inaugurated and Democrats controlled the House and the Senate. Nevada's unemployment was 9.4 percent.
The next month, the first stimulus was passed, and its supporters claimed that national unemployment would not rise above 8 percent. Instead, Nevada's unemployment increased to 10.1 percent. In June 2009, Congress passed Cash for Clunkers and Nevada's unemployment rose again to 12.0 percent.
Fast forward to July 2010. In the same month that Congress passed Dodd-Frank to reform the financial services industry, Nevada unemployment hit 14.3 percent. Due to the lack of economic activity in Nevada, people have stopped looking for work or have left the state to look for employment elsewhere. Now Nevada's unemployment remains more than 13 percent.
At a time when we need new, bipartisan ideas, President Obama and his supporters keep pushing the same tired ideas to raise taxes on job creators, increase regulations and increase our federal debt. When these ideas fail, they shift blame elsewhere. That may make good political sense, but it's devastating for our state and the rest of the country.
I and several of my colleagues have proposed new ideas that will get our economy growing again. These ideas are a much-needed, fresh approach that can actually attract bipartisan support.
First and foremost, our nation needs fundamental tax reform. The current tax code is too costly, too complex and too burdensome. Broadening the tax base will allow families to thrive and employers to create jobs. Simplifying the tax code would close loopholes while also saving individuals and businesses both money and time, allowing Americans to infuse much-needed capital. Equally important, we must reduce our corporate tax rate so that our businesses and manufacturers have a level playing field in the global economy.
Second, individuals, families and businesses require certainty in order to plan for the future and hire employees. Continual regulations flowing from Washington have eliminated jobs and stopped the creation of new ones. Business owners are too often forced to fight cumbersome rules and regulations rather than spend time investing in their companies and creating new jobs. Uncertainty of future regulations and tax rates chills capital formation, hurting economic growth and job creation.
Third, Washington must put a stop to out-of-control spending. Enacting a balanced budget amendment and eliminating duplicative federal government programs will set the foundation for helping our economy grow in the long term. The current culture of federal bailouts is a roadblock to economic growth and job creation. It simply is not fair to saddle the American public with the debt and bills of those who have acted irresponsibly.
Finally, with gas prices averaging more than $3.40 a gallon in Nevada, coupled with rising electricity rates, energy costs are hurting our economic vitality and limiting employment opportunities. The administration and Congress should establish a sound energy policy that creates a broad approach to expanding domestic energy exploration, production and refinement. This will allow the certainty necessary to encourage the development of innovative energy technologies.
Nevadans are desperate for solutions that will get our economy moving again. It's time for both sides to forgo the same failed policies and come together to pass effective legislation that lays the groundwork for real economic growth. Nevadans and the American people are ready to work -- they just need opportunities. It is time for Washington to do its job and get our nation back on track.
Dean Heller, a Republican, represents Nevada in the U.S. Senate.
