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| Wilson Statement on U.S. Industry at House Hearing |
March 24, 2004 |
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Washington, DC – Congresswoman Heather Wilson made the following statement at today’s House Energy and Commerce hearing on the state of U.S. industry:
“Mr. Chairman, I want to thank you for having this hearing and thank Secretary Evans for attending.
Our economy is growing, and strong. Interest rates are low, inflation is low, consumers are confident, and the stock market has recovered. Even with this good news we must continue to support policies that create jobs. That means low taxes and fair regulations so that small business can thrive.
While the news on jobs is improving, we must make sure that we keep our focus on helping all people find work. As long as there is one person out of work and without hope, we still have work to do.
I want to thank you for your efforts to improve the US economy. There are three areas where I think our work is starting to pay dividends.
Trade is one of the biggest drivers of growth we have. By opening up other markets for our products and creating competition to improve productivity, Americans have a much higher standard of living. Trade does not create a higher unemployment rate. It improves productivity and thereby the lives of all people, both here and abroad. The U.S. Department of Commerce says 96% of U.S. businesses that engage in trade have fewer than 500 employees.
Government cannot create wealth. But it can create the environment in which entrepreneurs can grow jobs. That means low taxes, fair regulations and a stable political environment.
Ninety-five percent of the people in the world are not Americans. We must trade to prosper. And 16 million Americans work at companies that are not U.S. companies. Whether it is Sennheiser making headphones or Heel, Inc. making homeopathic medicines, that investment creates jobs in America.
We are now growing jobs, but productivity growth is outstripping job growth. That’s a good thing generally, but hard for people looking for work.
What does productivity growth mean? It means that UPS used to spend $2 per package to be able to track where it was at any time. They now spend 1 cent per package with their computer scanning clipboards.
The benefits of trade are distributed, but the costs of trade are concentrated.
The key is to help people on to their next job and to keep building the skills of American workers. That means education.
We need a better-educated generation for our children and a commitment to lifelong learning for all Americans so that the 21st century is just as much of an American century as the 20th was.
I hope that during this hearing you can talk about some of the incredible changes this economy is undergoing. I am particularly interested in hearing about the effect that the tax cuts are having on the economy and your views on the future of US manufacturing.
Again, Secretary Evans, I am pleased that you are here and look forward to your testimony.
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