Chamber's Donahue: We Have Plan to 'Create Millions of Jobs'

Thursday, 01 Sep 2011 04:48 AM

By Hiram Reisner

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U.S. Chamber of Commerce President Tom Donahue said Wednesday there are ways to work with lawmakers and the Obama administration to create “millions of jobs” and the business group will send a “simple” plan to Congress right after Labor Day.
 
“Well, as you know, Neil, we have been working on job creation since this recession hit its high speed,” Donahue told Fox News’ Neal Cavuto. “Right after Labor Day we will send to the Congress a very simple document that says that here are . . . things that you can do without expanding the deficit and create millions of jobs.
 
“And all you have to do is work with the administration and handle the critical issues around trade, the awesome opportunity in the energy side to drill oil and gas and put lots and lots of jobs into the economy, and a lot of money into the government — an expansion of tourism, which if we went back to just not very long ago, you are probably looking at 1.3 million jobs,” he said. “The regulatory stuff that you talked about and the permits — how long it takes to get a permit to put people to work — and I think there are lots of things we can do there.”
 
Donahue told Cavuto there are also things that can be done to revamp America’s tax structure that will help create more jobs.
 
“I think we ought to let people bring the money home — America [is] the only country in the world where Americans are taxed double on overseas issues,” he said. “And if we can bring some of that money back and maybe even get rid of the corporate tax on profits — capital gains tax for a year or so — we would generate millions and millions of jobs in a very, very short period of time.
 
“So if we did some of the other things in the job program, and we brought the money home — and, by the way, they wouldn’t bring it all home, because they want to leave a lot of it overseas to do business there — I am sure that they would do half-a-dozen things with it,” Donahue said. “And some of it would be to create jobs and expand manufacturing.”

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