News / Economy

US Chamber Says Business-Friendly Policies Needed to Grow Economy

The U.S. Chamber of Commerce says the economy is starting to show signs of life.  But the business federation says the world's biggest economy is still growing too slowly.  The Chamber, which represents more than three million U.S. companies, acknowledges very little is likely to get done in an election year.  But it's calling on lawmakers to enact policies to get America working again.  

In his annual address on the state of American businesses, U.S. Chamber President Thomas Donohue says the economy is improving.  But he says it's not growing fast enough to significantly reduce unemployment.

"Unfortunately, we think the economy will actually slow down in the early months of 2012," said Donohue. "We expect growth to average 2.5 percent or lower in the first half and then hopefully, depending on the actions of government, to work its way up to 3 percent by the end of this year."

With a tough re-election battle facing some lawmakers this year, Bruce Josten, who heads the Chamber's Government Affairs unit, expects the group will be busy lobbying Congress to move quickly on business-friendly policies.

"In some respects politicking is going to take precedence over policy making," said Josten. "We hope to change that."

Among the Chamber's top priorities is construction of the proposed Keystone XL pipeline.  The 3,000 kilometer pipeline will carry more than 700,000 barrels of Canadian oil a day to refineries in Texas.  Donohue says the $7 billion dollar project will improve America's energy security and create thousands of new jobs.  

"The project has passed every environmental test," he said. "There is no legitimate reason, none at all to subject it to further delay."

Despite bipartisan approval for the pipeline, President Barack Obama is under intense pressure from environmentalists to scrap it. The Chamber, which insists it does not get involved in presidential politics, says it will lean hard on the president to move forward.  It also chastised Republican candidates on Thursday for criticizing front-runner Mitt Romney's business experience.

You May Like

Turkey's Controversial Reform Bill Giving Investors Jitters

Homeland security reform bill will give police new powers in search, seizure, detention and arrests, while restricting the rights of suspects, their attorneys More

Audio Slideshow In Kenyan Prison, Good Grades Are Path to Freedom

Some inmates who get high marks could see their sentences commuted to non-custodial status More

'Rumble in the Jungle' Turns 40

'The Champ' knocked Foreman out to regain crown he had lost 7 years earlier when US government accused him of draft-dodging and boxing officials revoked his license More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Victorious Secularists Face Challenge to Form Government in Tunisiai
X
Henry Ridgwell
October 30, 2014 11:39 PM
Official results from Tunisia show the Islamist Ennahda party has failed to win the second free election since the so-called "Arab Spring" uprising in 2011. Ennahda, which handed power to a government of technocrats pending the elections, lost out to the secular party Nidaa Tounes. Henry Ridgwell reports from London that the relatively peaceful poll offers some hope in a volatile region.
Video

Video Victorious Secularists Face Challenge to Form Government in Tunisia

Official results from Tunisia show the Islamist Ennahda party has failed to win the second free election since the so-called "Arab Spring" uprising in 2011. Ennahda, which handed power to a government of technocrats pending the elections, lost out to the secular party Nidaa Tounes. Henry Ridgwell reports from London that the relatively peaceful poll offers some hope in a volatile region.
Video

Video Africa Tells its Story Through Fashion

In Africa, Fashion Week is a riot of colors, shapes, patterns and fabrics - against the backdrop of its ongoing struggle between nature and its fast-growing urban edge. How do these ideas translate into needle and thread? VOA’s Anita Powell visited this year’s Mercedes Benz Fashion Week Africa in Johannesburg to find out.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.

All About America

AppleAndroid

World Currencies

EUR
USD
0.7893
JPY
USD
107.68
GBP
USD
0.6238
CAD
USD
1.1214
INR
USD
61.185

Rates may not be current.