Chris Christie (Jobs and Business Policy)
Getting Regulation Under Control
Capping The Cost Of Regulation For Employers: President Obama’s own Small Business Administration admitted that federal regulation costs over $10,000 per employee. Congress should adopt a regulatory budget, such that the cost of complying with all regulations adopted by the federal government in any given year will not exceed a set amount. (CCWEG)
Creating Incentives to Work
“Today, though, there are too many federal policies which discourage work. America must reduce the marginal cost to the employee of taking a job, and reduce the federally-imposed cost to an employer of hiring someone.”
- Repeal Obamacare’s 30-Hour Workweek: Obamacare requires that any employer employing someone more than 30 hours a week provide health insurance. This rule is a clear contributor to the massive shift from full time to part time employment under this president. Let’s get the 40-hour work week off the endangered species list and put Americans back to work.
- Eliminate The Payroll Tax For Those At The Beginning And End Of Their Careers: In outlining his entitlement reform proposals, Governor Christie recommended eliminating the payroll tax for those above age 62. Today, Governor Christie is also calling for a similar tax break for those newly entering the work force, below age 25. This will encourage those nearing retirement to keep working should they want to; and make it easier for the young to enter the work force. Both will be good for America.
- Reform Disability Insurance To Help Individuals Return To Work: As part of his entitlement reform proposal package, Governor Christie called for reforming Social Security Disability Insurance to encourage a return to work and to reward employers who re-hire those on disability. As part of this proposal, eligibility for benefits would be conditioned on entering a rehabilitation program and developing a workplace reentry plan.
Ensuring That America Is The Home of Innovation
"This will require investing in research and development, focusing education on the needs of employers and increasing access to capital.”
- Give Greater Priority To Investments In The Future: In the past few decades, as spending on entitlements and health care as a percent of GDP has soared, investment in R&D has been basically flat. Yet it is this exact investment in basic R&D, in such areas as biomedical research, materials science, and high performance computing that has laid the vital groundwork for so much innovation in America’s fastest growing industries, such as technology and biotech.
- To encourage private sector innovation, the R&D tax credit permanent as part of broader tax reform. In 2009, over 12,000 companies, including over 5,000 manufacturers, used the credit.
- Greater Focus On Workforce Skills In Higher Education: In addition to investing in universities themselves through research, the U.S. must do a better job matching the skills students learn with the needs of employers. Pathways between high school, post-secondary education, and the entrylevel job market must be more seamless. Students and parents also need greater transparency on what they’re paying for and greater choice on whether we want to pay for it.
- Give Young, Growing Companies Easier Access To Capital: America has for many years had the deepest, most liquid, most transparent capital markets in the world. Yet America is now losing its edge, in part due to the unintended consequences of regulation. Reform which makes it easier for young high growth companies to access the capital markets is essential.