Economy

As our nation struggles to jumpstart the economy and put more people back to work, Senator Blunt knows that economic stability and certainty are vital to ensuring that businesses grow and create more private-sector jobs for Missourians. Unfortunately, uncertainty in the marketplace undermines job creation by limiting long-term business planning and disrupting strategic growth and investment opportunities for businesses small and large.

Senator Blunt knows that small business drives our economy. Over the past 15 years, small businesses have created nearly two-thirds of all new jobs and currently account for just over half of all private sector jobs. Senator Blunt is a firm believer in the power of private enterprise. The federal government’s role in job creation should be to facilitate an economic environment of certainty. Individuals and businesses that risk their resources and money to create jobs and expand should be rewarded and incentivized, not punished with new regulations and taxes.

Lower taxes mean more money for businesses to expand operations and create jobs. Senator Blunt voted to permanently extend current tax rates for the majority of Americans. Having worked hard to get these tax policies passed in 2001 and 2003 as a leader in the House, Senator Blunt voted at the beginning of 2013 to protect middle class families and small business owners from the largest tax hike in American history. Senator Blunt fought to permanently protect 99% of taxpayers from a tax increase, provide economic certainty for every American, and ensure the vast majority of Missouri’s farm families will not face the unfair death tax.

Senator Blunt believes that sound tax policy must work in tandem with responsible spending, including prioritizing discretionary spending in our federal budget and cutting unnecessary, duplicative programs. The unsustainable path of spending and borrowing must be reversed. The nation’s record debt has surpassed $16.5 trillion – and is rising. Now is the time to reverse these failed spending policies and once again place the United States on sound financial footing.

Unfortunately in recent years, the Senate Majority has abdicated its Constitutional responsibility to pass an annual federal budget. This has led to reckless spending that has burdened future generations with record debt while millions of Americans look for jobs. Senator Blunt knows that Congress must work together to spend taxpayers’ dollars more wisely, pay down our debt, and put America on an economic path to encourage private businesses to innovate and invest for the future.

Senator Blunt believes that Congress should ensure that the federal government itself isn’t the chief obstacle to growth and job creation. The federal government’s regulatory policies should recognize how private businesses invest, create jobs, and spur economic growth.

Senator Blunt wants to repeal onerous and unnecessary regulations because the cost to all businesses, particularly small businesses, is too high. According to the National Federation of Independent Business (NFIB), small businesses spend an astonishing $74 an hour on paperwork compliance, a crushing burden of time and resources. It’s no wonder Missouri job creators of all kinds are calling on Congress to reduce regulatory burdens during these difficult economic times.