[Congressional Record Volume 156, Number 108 (Wednesday, July 21, 2010)]
[House]
[Pages H5821-H5822]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       AMERICA COMPETES FOR JOBS

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Mr. Speaker, the United States competes on a global level 
for businesses and jobs, and when international investors look at our 
Nation, they have some concerns about the future.
  Our country has the second highest corporate income tax rate in the 
industrialized world; and come January 1, we will see the largest tax 
increase in our Nation's history as the 2001 and 2003 tax cuts, all 
taxes, snap back to the old higher levels. There's uncertainty with on-
again/off-again tax cuts and increases.
  Starting today, our financial regulatory agencies will write hundreds 
of new rules governing investment. And

[[Page H5822]]

we're now completely remaking our health care system with extensive 
government oversight, taxes, and thousands of pages of new regulations.
  With all of these things together, it's perfectly understandable why 
we have weak job growth. Uncertainty about the United States business 
climate is directly caused by what Congress is doing to the American 
economy. We need to stop harming our economy with new taxes and 
complicated regulations and opportunity for new litigation and, 
instead, free American entrepreneurs and businesses to be able to 
compete on a global level to create jobs.

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