Keeping the Pledge to America: How Republicans Have Fought to Create Jobs, Cut Spending, & Change the Way Congress Does Business. Click here to learn more.
Job Creation
A thriving economy comes from businesses and entrepreneurs, not from government regulations and mandates. Government should enact policies that allow and encourage businesses to grow and expand, rather than stifling growth with bureaucracy and red tape. I recognize that there is no silver bullet to stimulate economic growth. However, by reducing our debt and spending levels and reducing onerous regulations and high taxes, government can get out of the way of economic growth. I will continue to work to pass legislation that reduces the burden of debt that is a drag on our economy, and that creates a healthy environment for job creation.
According to the U.S. Congress Joint Economic Committee, for the past 40 years, federal spending and private job growth have moved in opposite directions. During times of low federal spending, private sector job growth has flourished, while high federal spending has been accompanied by stagnation in the economy. By contrast, private investment and job growth are directly related, with high private investment accompanying high job growth and vice versa. In short, there is no substitute for private investment to grow the economy and reduce unemployment.
The President’s own economic advisors have estimated that our current debt levels are causing a 1% drag on our economy, and that an increase of just 1% in GDP could create upwards of 1 million jobs. Far from destroying jobs, cutting government spending will create thousands of new jobs.
Aaron speaking on House Floor
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Web Video: Need for Tax Reform
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We must look to reform our job-destroying tax code. Simply put, our tax code is too complex and too costly. I fought to get on the Ways and Means Committee because I believe that reforming our tax code will be key to job creation. The United States has one of the highest corporate tax rates in the world, and our individual tax rate is too high as well. I believe that citizens are better stewards of their own money than the government, and that we would be more profitable as a country if people were allowed to keep more of their money to invest on their own. In addition, the majority of small businesses are not organized as corporations, but rather pay taxes at the individual rate. As a result, every time we raise taxes on individuals, we are raising them on small businesses, which create 7 out of 10 jobs in America.
Speech: House Floor Remarks
OP-ED: Extend tax cuts, then restructure the tax code
OP-ED: There are 3.8 million reasons why tax reform is badly needed
MSNBC’s Daily Rundown: Interview
WEB VIDEO: Aaron Schock on need for Comprehensive Tax Reform
Press Release: Schock Advocates for Tax Reform on House Floor
Press Release: Schock Fights to Prevent Tax Hike - Continues Efforts to Reform 70,000 page Tax Code
Press Release: Schock Continues Work Toward Comprehensive Tax Reform
Additional Interviews: Roll Call | National Journal | Politico | Testimony before Ways and Means committee | Opinion Piece
Aaron on Regulations
So far in 2012, the Federal Register - where regulations are published - has run 41,662 pages. Regulations that have been published would cost $56.6 billion and result in paperwork that would take 114.1 million hours to complete, or over 13,000 years working 24 hours a day and seven days a week.
Aaron holds a pres conference to discuss impact of
federal regulations on Illinois |
The week of July 23rd, 2012, the House will consider H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act. This legislation is a combination of bills which is aimed at cutting government red tape to make it easier for small businesses to create jobs. H.R. 4078 would impose a moratorium on any new regulation, save for health and emergency, until unemployment drops below six percent nationally. H.R. 4078 also contains language to curtail so called “midnight regulations” and to highlight the preponderance of “sue and settle” agreements. To learn more about Aaron's efforts to fight costly and burdensome regulations, click here.
Recent Legislative Activity
Click here to review additional legislative activity
Review of Federal Regulations - H.Res. 72 - Passed by the House (391-28) on February 11, 2011
Reducing Regulatory Burdens Act - H.R. 872 - Senate has taken no action to date
Protecting Jobs from Government Interference Act - H.R. 2587 - Senate has taken no action to date
Transparency in Regulatory Analysis of Impacts on The Nation Act - H.R. 2401 - Senate has taken no action to date
Cement Sector Regulatory Relief Act - H.R. 2681 - Senate has taken no action to date
EPA Regulatory Relief Act - H.R. 2250 - Senate has taken no action to date
Regulatory Accountability Act - H.R. 3010 - Senate has taken no action to date
Regulatory Flexibility Improvements Act - H.R. 527 - Senate has taken no action to date
REINS Act - H.R. 10 - Senate has taken no action to date
Farm Dust Regulation Prevention Act - H.R. 1633 - Senate has taken no action to date
Small Business Paperwork Mandate Elimination Act - H.R. 4 - Signed into law by the President on April 14, 2011
Aaron on Job Creation
House Passes 30 + Jobs Bills Awaiting Action in the Senate
I don’t believe government is the solution to our ailing economy, but there are ways Congress can help move the dial so that our country can begin to head in a more fiscally sound direction and encourage the private sector to create jobs. Since last year, the House has passed 30 separate jobs related bills that would help encourage private sector job growth; however a majority of these bills have not been voted on in the Democrat-controlled Senate.
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I am proud to have supported job creation bills in the House. Whether it’s empowering small business owners who are the backbone of our economy, reducing burdensome regulations that prohibit entrepreneurial growth, or helping to get our domestic energy industry back on track, I believe we must do more to incentivize job creation. Congress needs to focus on the immediate task in front of us and that is making the United States competitive again, and that begins by creating an environment for job creation. I believe the legislation above does just that and I hope my colleagues in the Senate will begin to act soon.
Latest News
Schock Fights to Keep Barge Traffic Flowing Down Mississippi River
Schock Fights to Prevent Tax Hike - Continues Efforts to Reform 70,000 page Tax Code
Op-Ed: Extend tax cuts, then restructure the tax code
Supreme Court Rules Individual Mandate is a Tax Increase
Updated: Schock’s Bill Stops Tax Increase on Canton, IL Employer
House Passes Reauthorization of Vital Economic Tool
Schock Fights Back Regulation Undermining Family Farms
The Latest Small Business Headache
Schock's Recent Legislative Actions
Updated: Schock’s Bill Stops Tax Increase on Canton, IL Employer
Schock Introduces Small Business Tax Relief Bill
Schock’s Veterans Work Opportunity Tax Credit Finds Success in House Passed Bill
Job Creating Trade Agreements Approach Finish Line
Schock Introduces Jobs Bill Aimed at Helping Veterans
Schock Introduces Local Jobs and Economic Development Legislation
Schock Seeks Extension to Vital Welfare to Work Program
House Passes Long-Term Highway Bill
After months of urging Congress and President Obama to pass a long-term highway bill Congressman Aaron Schock (IL-R) is claiming victory. On June 29th 2012, the House voted to approve a transportation infrastructure bill, H.R. 4348, that will fund the nation’s roads, rails, bridges, and infrastructure through September 2014. Schock has been a vocal advocate for the benefits of a long-term highway bill, not only for Illinois, but for moving commerce throughout the country, to incentivize employers to locate here and for domestic job creation. During debate of the highway bill today, Schock was selected to preside over the House as the Speaker Pro Tempore.
Highlights of the Bipartisan Highway Bill
- The Highway Bill is for a full 2 years and 3 months through September 2014
- The Illinois Funding formula was not changed
- Illinois will average over $1.38 billion a year in federal highway funding from the Highway Trust Fund with further opportunities to secure additional dollars
- Illinois’ percentage of the total highway trust fund allotment increases from 3.52% to 3.67%
- Shortens the average review time for new transportation projects from 15 years to 7 years. (In part by requiring various environmental reviews to proceed concurrently)
- Also includes an extension of the current student loan rates for one year
- Includes Schock’s rural roadway safely legislation
Background on Congressman Schock’s efforts to pass a Long-Term Highway Bill
Schock’s efforts to pass a long-term transportation infrastructure authorization began during his first term in Congress while serving on the House Transportation & Infrastructure committee and the Highways and Transit subcommittee. Schock renewed his efforts to pass a long-term highway bill in force last year, in 2011, when he called on President Obama and his own House leadership to begin the process of developing and passing a highway bill. Click here to learn more.
2011 Legislative Accomplishments
Legislative Accomplishments Yield Positive Results for Illinois and 18th District. Click here to read more.
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