Saturday, April 14, 2012

McCarthy: Overregulation and overspending are killing growth in California and is putting businesses in jeopardy

 Rep. Kevin McCarthy, R-Bakersfield and House Majority Whip, gives us his weekly view from Capitol Hill. In his words:

 "Bakersfield is home to many family-owned businesses that have shaped our community.  Businesses like Smith’s Bakeries, Clerou Tire Company, and Dewar’s Ice Cream and Candy Shop are often mentioned.  But there are many others, like the story of Jona Feil and Marvin Bartel who saw potential here in Bakersfield. In 1965, Jona and Marvin founded a weed and insect control business with one spray rig and one worker. Soon, Abate-A-Weed expanded into selling chemicals and lawn and garden equipment, and today, the Feil family employs 36 people and remains a long-standing equipment and pesticide service supplier in our community.

"My fear is that today’s Jonas and Marvins won’t be able to get off the ground in California. And simply put, California is not the model Washington needs to follow.  I’ve lived in Bakersfield my whole life, and in almost 47 years, I’ve watched California’s business climate continue to worsen.   Overregulation, overlitigation and overspending have driven our state into debt, joblessness, and soaring fuel and food costs that are hurting families and local small businesses.  In fact, a recent survey released by the National Federation of Independent Business (NFIB) indicated that high gas prices are seriously affecting small businesses and decreasing optimism about the economy.

"Many of our small business owners this past week shared with me the impact rising gas prices are having their small businesses. One local small business owner said that as a result of gas prices surpassing $4.00 per gallon, the amount he spends on fuel now exceeds his payroll costs.  These local experiences are the reasons I continue to push policies for more domestic energy production.  We need energy for America, from America.

The new pro-growth energy policy package that I released last week would help provide needed relief to families and small business owners by providing a true “all-of-the-above” strategy to stabilize rising gas prices. I urge the President and my Democratic colleagues to take up this legislation - as well as the six other energy bills that have been passed by the House and are currently stalled in Democratic-controlled Senate - to help lower the cost of energy, spur economic growth, and create new American jobs.

"The recent provision in the JOBS Act that I authored – and has been signed into law by the President - repeals an outdated Securities & Exchange Commission regulation limiting capital formation to help entrepreneurs access the capital they need to grow and hire new workers.

"I believe the right policies for our economy’s recovery start here with our local small business owners.  The economic success of our nation and California rests on the foundation built by innovators in our community. The success story of the Feil family is one that our nation, state, and community need to replicate.

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