Morning News - State of American Business Edition
Our State of American Business release was widely reported on yesterday, you can read the report here. Over 80 reporters covered Tom Donohue and Bruce Josten’s press conference. Just a taste:
The U.S. Chamber of Commerce said on Wednesday that it expects the recession to hit its bottom by the middle of 2009, unless there is another major economic shock. (Reuters)
Anticipating rising unemployment and steep declines in the nation's GDP through the middle of 2009, Chamber President and CEO, Thomas J. Donohue said, "We have two choices. We can bemoan our fate and keep telling each other how bad things are. Or we can get right down to the business of reviving the economy, restoring growth and job creation, and putting Americans back to work." (Traffic World)
Leaders of the U.S. Chamber of Commerce emphasized their support for a stimulus package totaling upwards of $700 billion today, particularly applauding the tax breaks that are expected to make up to as much as 40 percent of Obama's plan. (U.S. News and World Report)
But Donohue warned against the kind of massive and permanent government action that arose during the Great Depression. (Washington Post)
In a proposal unveiled Wednesday, the U.S. Chamber of Commerce laid out a series of tax incentives and credits that it said would help boost business as the economy stumbles. The Chamber also expressed support for more infrastructure spending and assistance to a variety of industries, including the housing and travel sectors. (The Hill)
The Chamber wants eight business tax reductions and accounting changes in the economic stimulus package. Those include lower taxes on earnings from abroad, faster depreciation of new investments, and cutting corporate capital gains taxes from 35 [percent] to 15 percent. (Marketplace)
Barack Obama should implement a broad range of measures to expand international trade and help jump-start U.S. economic growth, the U.S. Chamber of Commerce said today.(Journal of Commerce Online)
With U.S. consumers drastically curtailing their spending, U.S. businesses must start exporting more. But they need help. Small and mid-sized businesses account for 30% of all U.S. exports, he said. The government should double federal expenditures on export promotions, specifically focusing on small companies. (Independent Street - WSJ)
The chamber remains optimistic it can find a workable approach to energy solutions with Congress, said Bruce Josten, the agency's executive vice president of government affairs, even though it does not see eye to eye with the new leadership on the issue. "Technology's the ultimate solution here," Josten said. "We continue to pass laws promoting the development and acceleration of new technologies, and then we don't fund it and walk away from it." (CNET)
While Donahue did say that he sees the Chamber and the new administration being able to "work well" together, he added that the Chamber would not be hesitant to fight certain labor and employment proposals - such as card check legislation which is said by lobbyists to be a hot issue in 2009. "We think highly of the President-elect’s economic team," Donohue says. "Even so, we will not hesitate to vigorously fight wrong-headed proposals when necessary." (Legal Times)
If you didn't catch the press conference and your days are just packed, you can download the podcast, load it on your favorite mp3 player and get your policy fix on the go. Example:
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