Jane Kidd's Statement on Economic Growth in the Fourth Quarter of 2009

“Today’s news that the GDP has grown at its fastest rate since 2003 is a welcome sign that our economy is turning a corner.  President Obama has worked tirelessly to implement smart policies like the Recovery Act that will help our economy grow and end the decline we experienced due to failed Republican policies.  

But as President Obama has made clear, our unemployment rate is still unacceptably high.  Currently, Republicans in the State Legislature are preparing a jobs bill that they claim will spur job growth through tax credits and capital gains tax cuts. These tools are the same ones that President Obama mentioned as key to his plan for job growth in the State of the Union Address.

We applaud President Obama’s bold approach to job creation, and congratulate Tom Graves and Chip Rogers for co-opting the President’s approach. We are hopeful that the Republican leadership will allow our President to lead on other state issues as well.”

The appropriate portion of the President’s State of the Union Address is below:

I'm also proposing a new small business tax credit – one that will go to over one million small businesses who hire new workers or raise wages. 

While we're at it, let's also eliminate all capital gains taxes on small business investment, and provide a tax incentive for all large businesses and all small businesses to invest in new plants and equipment.

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