As North Carolinians know well, our economy continues to face enormous challenges. People and employers are still having a difficult time getting credit -- credit that allows them to make large purchases, buy equipment, invest for the future, and fund their daily business operations. As a result, many businesses have gone under or are struggling to stay afloat, workers have lost their jobs and their livelihoods, and families continue to bear the brunt of the economic storm.
Senator Burr believes that the top priority for Congress should be job creation and getting our economy going again. With our high unemployment rate, Senator Burr believes that it is the responsibility of North Carolina's elected representatives to ensure that we encourage and adopt policies that drive entrepreneurship and create good-paying, private sector jobs.
Unfortunately, last year's Economic Stimulus bill - which cost taxpayers nearly a trillion dollars in government programs and projects - was not the right approach to solving our economic problems. That's why Senator Burr voted against it. Our state's double digit unemployment rates and the call for even more "stimulus" or "jobs" legislation are proof that the Economic Stimulus bill was a very expensive failure for taxpayers.
Rather than pour more taxpayer dollars into programs and jobs that are supported by the government, Senator Burr believes we need to be focusing on big-picture ideas that will actually provide an economic environment that spawns the private sector innovation and investment needed to sustain long-term economic growth and good-paying jobs.
He believes game-changing ideas, like fundamental tax reform, are key to meeting this goal. Our current, complex income tax system punishes work and savings, has very high compliance costs, and rewards those special interests and lobbyists who are able to insert tax breaks that just benefit themselves at the expense of everyone else. This is not fair, and it's not good for our economy. That's why Senator Burr believes the time has come for proposals like the FAIR Tax Act or other tax reforms that would increase the savings and investment needed to fuel economic growth and job creation into the future.
To spur the economy in the short-term, Senator Burr also supports broad-based tax relief, such as sales tax holidays, that would drive consumer purchases and help keep businesses going. That's why he recently introduced legislation called the Sales Tax Holiday Act that would help states provide all Americans with a 10-day sales tax holiday.
Another part of the solution for keeping jobs is to make sure that our fair trade laws are being enforced. Before the United States enters into trade agreements with foreign countries, Senator Burr believes we must work to ensure the agreements represent a fair deal for American workers and businesses. He also believes we must confront other countries directly and swiftly when they break the rules.
To help North Carolina specifically, Senator Burr has hosted economic development workshops and summits focused on small business development, entrepreneurship, the federal grants process, community colleges, and other related topics throughout the state. These workshops are designed to promote economic development and to make North Carolina more competitive in the future. To learn how you can be a part of these events, please visit my economic development events page.