As President Obama’s new jobs proposal soon approaches, the U.S. Chamber of Commerce has prepared its own plan for expanding U.S. employment. In an open letter to Congress and the White House, the Chamber called for an array of measures to promote employment, ranging from easing restrictions on oil drilling, providing temporary corporate tax breaks, and increasing spending on public infrastructure.
The Chamber contends that its proposal would create six million jobs by 2013 and help shave the nearly $2 trillion that clutter corporate balance sheets. Some of the proposed measures will likely overlap the President’s new jobs initiative being announced Thursday, but others, such as oil drilling and a corporate tax holiday, are predicted to mainly garner widespread Republican support.
"To create jobs, we must enact policies that promote and sustain stronger economic growth. We must also address extraordinary fiscal and competitive challenges that are smothering growth and driving away jobs," wrote Chamber President Thomas Donohue in the seven-page letter. "There are specific steps Congress and the administration can take right now to spur faster job growth in America’s private sector without adding to the deficit."
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