Eric Cantor: Fox News Sunday With Chris Wallace- 'Majority Leader Eric Cantor Discusses the GOP's Plan for Jobs & Economic Growth'

Source:Eric Cantor- House Majority Leader Eric Cantor, on Fox News Sunday with Chris Wallace.

"Majority Leader Eric Cantor Discusses the GOP's Plan for Jobs & Economic Growth on FNS" 

From Eric Cantor

Looks to me that the House Republican plan to get the economy going again is centered around cutting regulations. Hopefully not around Wall Street, because we've seen what happens in the last ten years what happens when you don't regulate Wall Street. The Wall Street scandals of 2001-02 and 2008 that led to the Great Recession that we are still three years later struggling to recover from. 

Congress just passed three trade deals last week and where's the rest of their plan. The tax cut plans have come not from their House Leadership, but from. Representative Paul Ryan (Chairman of the Budget Committee) as well as some of their presidential candidates like Herman Cain, Mitt Romney, and Rick Perry. 

The only plans that relate to the economy that House Republicans have drafted or pass relate to the Federal debt and deficit, meaning cutting them. But those are long-term plans to get our debt and deficit under control over the next ten years. They don't have much if anything to do with creating jobs in the next year or so for 2012. 

The only economic plan thats come out of the Federal Government, that has tax cuts in it has come from President Obama. Someone the Far-Right likes to call a Socialist. Tax cuts are supposed to be a Republican issue. 

I'm not saying that tax cuts are the magic bullet for economic and job growth in America. But tax cuts have always been the magic bullet for economic and job growth for Conservatives. For more than thirty- years now, going back to the mid and late 70s.

President Obama's economic plan is built around infrastructure investment, middle class tax cuts, small business tax relief, and free trade. He's been successful so far in one area, free trade with the deals that were passed last week. 

The President wants to create a National Infrastructure Bank that would take care of the financing of our infrastructure investment. That would be self-financed and be independent of the Federal Government. As well as extend the Payroll Tax Holiday for workers and extend it to employers as well. 

I wish President Obama would go farther by maybe cutting the 10% tax bracket to 5% to encourage consumer spending, as well as Debt Relief for the middle class. Let them deduct their debt from their taxes. As well as reforming our Unemployment Insurance system, making it proactive by turning them into employment centers. That would help unemployed workers find jobs, giving them assistance to go back to schools and get retrained. I believe the House Republican Leadership would be open to that idea as is the President.

House Speaker Boehner has already expressed interest in infrastructure investment as part of an economic plan. And is interested in creating a six-year highway bill and President Obama has expressed interest in regulatory reform. So maybe there's a deal that can be reached between the House and White House. As well as between Senate Democrats and Republicans.