Friends:

Today, the U.S. Department of Labor reported that our economy lost 96,000 jobs in September and the unemployment rate remains stagnant at 9.6 percent.  This marks the seventeenth consecutive month that unemployment has been above 9 percent, and the fourteenth consecutive month that unemployment has been above 9.5 percent – the longest such span since the Great Depression.

This is unacceptable, and sadly, there is no end in sight. When Majority Leaders chose to skip town last week, they also skipped out on their responsibility to protect struggling families and small businesses from a $3.8 trillion tax hike scheduled to take effect in less than 100 days. 

All of my Republican colleagues, dozens of top economists and 47 House Democrats agree: our economy is too fragile to risk raising taxes.  After a long and tumultuous recession, the American people deserve a break – they deserve some certainty. Congress must take immediate action to stop this tax hike and put our nation on track for a stable, lasting recovery.


Sam Graves
Ranking Member

• $1,161,000,000,000: The total cost of the Democrats’ stimulus legislation.  CBO estimates the cost of the bill will reach $814 billion and interest on the debt for the bill will be at least $347 billion.

• 7.9%: The level at which President Obama claimed unemployment would peak if the stimulus was passed.

• 2,622,000: The number of net jobs lost since the stimulus was signed into law.

• 14,767,000: The number of unemployed Americans looking for work in the month of September.

• 33.3: The average number of weeks that job seekers have been unemployed.

• 9,472,000: The number of Americans who are working only part-time because they cannot find full time employment—the highest number ever.

• 26%: The unemployment rate among job seekers between the ages of 16 and 19.

The House of Representatives has adjourned for the November elections.  As a result, there are no hearings scheduled in the House Small Business Committee.  You can stay up-to-date on the latest Committee schedule by visiting the Committee Calendar on our website, or by following us on Twitter. 

The House is scheduled to return to session on November 15, 2010, at which time Straight Talk will resume its regular Friday publication.  Until then, we will continue to keep you updated on small business news with periodic e-mails. 

• Politico: Reject Tax Hike for Small Business
• CS Monitor: Rising Regulatory Costs Strangling Small Business?
• The Hill: Graves Presses IRS for Answers On 1099 Rule
• WSJ: Small Businesses Held Back by 'Vicious Cycle'

• Graves demands answers on 1099 rule
• Bartlett hosting procurement event
• Graves and Luetkemeyer receive agriculture award
• More Member Highlights… 

• SBA Office of Advocacy hosting Entrepreneurship Outlook
• New Heritage Foundation report on the impact of Obama tax increases
• More News and Resources...