Job Creation

Floor Speech

Mr. THOMPSON of Pennsylvania. Mr. Speaker, not only can we not wait; we can't afford to wait. And here in the House, we haven't waited.

With this week's passage of H.R. 1904, the Southeast Arizona Land Exchange and Conservation Act of 2011, and H.R. 674, the repeal of the 3 percent withholding rule on certain payments made to vendors by government entities, the House Chamber now has passed more than 17 job-creating bills in the 112th Congress.

H.R. 1904 will boost development of our Nation's copper resources, generating billions in new revenue and creating new environments for economic growth. Much like the costly Form 1099 requirements that we succeeded in repealing earlier this year, the 3 percent withholding rule would impose substantial new burdens on cash-strapped employers, impeding cash flows and further undermining job creation.

Passage of H.R. 674 will not only create jobs; it will relieve Federal, State and local governments of the need to comply with unfunded administrative burdens that the rule would impose.

Mr. Speaker, not only can we not wait; we cannot afford to wait. And here in the House, we haven't waited.

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