Dear Chairman Camp:
Today’s jobs reports underscores the urgent need to take action to promote economic growth and job creation. For 27 straight months the private sector has added jobs. This is a significant achievement considering the massive job losses our nation faced as President Obama took office, but we must do more.
The Ways and Means Committee has failed to take up proposals within our jurisdiction to spur job growth for the last year and a half. It is vital that it do so with all deliberate speed. These proposals, all which require Congressional action, include but are not limited to:
* Extension of the section 48C Advanced Energy Manufacturing Credit.
* Extension of the production tax credit for wind power and other vital advanced energy incentives.
* Extension of the highly successful Build America Bonds program, which financed more than $180 billion in infrastructure investment.
* Extension of 100 percent bonus depreciation.
* Creation of a 10 percent income tax credit for small businesses that create new jobs or increase their payrolls.
* Extension of jobs-related expired provisions such as the R&D credit.
Many of these ideas are on the President’s “To Do List" for Congress, and many enjoy bipartisan support, yet hardly any of them have received so much as a hearing. There is no reason to delay action.
I urge you to promptly schedule a hearing on these and other job creation proposals, followed by a mark up. The millions of Americans who are still looking for work cannot afford further delay.
Sincerely,
Sander Levin
Ranking Member
