Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) gave the following remarks at the House Republican leadership weekly press conference, and called on Senate Democrats to take action on the jobs bills that have been passed, with bipartisan support, by the House.
“Well, when you look at the card, lots of times you can’t see it. But if you ever read it, the first point here is ‘Empowering Small Business.’ The reason that’s in the Republican Plan is because small business create the most jobs in America. It shows fact after fact. Many of you know my story: At age 20 I created my first small business. Creating this business and owing a deli, and being successful, I wanted to go create more. But what were the barriers to create more? A 21-year old kid doesn’t have a good chance of getting a loan from a bank. I didn’t come from wealth, so the government tells you that you have to have a preexisting relationship with someone if you want to ask them to invest in your company. Or you have to file with the SEC a regulation that was created in 1933. This week were going to bring up four bills, one happens to be mine; were going to take that 1933 law and get rid of it. We’re going to allow the idea of a small business to grow, to find the capital that it needs and give it greater access.
“If you study the greatest growth in America or if you study where job creation comes, it’s from small business. If you just take the nearest facts, the ending of the last recession in 2001 to the beginning of this recession in 2007, and you look into America where were those jobs created; companies with 500 employees or fewer created 7 million jobs during that time. If you had a company with 500 employees or more, you cut one million. Sixty percent of those seven million jobs came from companies that were five years old or younger. Well, the Republican plan empowers small businesses and job creation. This week we will pass four – four bills on floor this week. We just hope they don’t end up on the other side, on the forgotten side, in the Senate. The President talks about this, it’s time for him to come off of the campaign trail and help small business.”