This week, the Department of Commerce reported that the U.S. economy grew at its slowest pace in two years in the first quarter of 2016. Our gross domestic product only grew by a 0.5 percent rate — an anemic level that will not generate and sustain the type of job and wage growth we so desperately need. This comes on the heels of a new George Mason University study on the cumulative burden of regulations on our economy, which found that this they impose costs of over $4 trillion on the nation.

At a time when our economy is struggling, congress must do everything possible to help small businesses achieve success, including startup companies and entrepreneurs. These entities are our nation’s most dynamic job creators, and their success is essential to bringing new and better-paying jobs to our communities. Facilitating capital formation is one vital component of the strategy to invigorate small business growth.

We need more pro-growth policies if we want to end the economic stagnation we are facing and bring more dynamic job growth to our communities. 

 

Robert Hurt, a Republican, represents Charlotte in the U.S. House of Representatives. He can be reached at (434) 395-0120.