It's dÃ©jÃ vu all over again. Democrats in congress have re-introduced a small business â€“jobs bill that has no hope of helping small business. Pandering to labor union interests, filled with Democratsâ€™ flawed understanding of what creates private sector jobs, and crammed full of recycled regulations from the failed Waxman-Markey Energy bill, H.R. 870 is dangerous legislation that uses buzz words rather than sound business principles to encourage small business growth and job creation.
The legislation, thinly disguised as a jobs creation bill, panders to the tired, failed policies of Democratsâ€™ left-wing, extremist base. The bill focuses on â€œgreen jobsâ€, construction of â€œwind turbines and solar panelsâ€, enforces ineffective but restrictive penalties on China trade and determines which industries will be rewarded by handouts from the government by identifying which industries Democrats believe provide jobs that are â€œactually neededâ€.
Important memo to Nancy Pelosi and Steny Hoyer: Wake up! When a country is trying to grow the economy and â€œgrowâ€ jobsâ€”all jobs are â€œactually needed.â€
The bill is filled with bits and pieces of entitlement benefits and government handouts from other pieces of failed Democrat legislation. For example, there is funding for state Head Start programs and funding for emergency food stamp subsidy programs (p. 5).The, bill reeks of socialism in the form of â€œEmployment Opportunity Grantsâ€, (p.3) thinly disguised as federal government handouts to reward businesses that support left-wing ideological efforts.
Even more dangerous is the vague legislation which allows â€œgrantâ€ recipients to create ACORN-like entities: â€œa recipient of a grant may use the remaining amount of the grant to assist public entities, nonprofit community-based organizations â€œ(Sec.4.c.2).
Of course, in order to get the grants, business will have to â€œconsult with community leaders, including labor organizationsâ€ (p.7) and conform to develop the jobs in the areas where the Secretary of labor thinks growth is most likely. (p.12). As if thatâ€™s not enough, slipped in at the very end of the bill is an amendment to the IRS tax code implementing a new tax on Securities Transactions (Sec. 7). More: http://townhall.com/columnists/luritadoan/2011/05/09/democrats_announce_new_assault_on_small_business