WASHINGTON (MNI) – The following was issued by the U.S. Chamber of
Commerce President Thomas Donohue Thursday:

The American economy is improving at an insufficient pace to put
enough of our country back to work, said U.S. Chamber of Commerce
President and CEO Thomas J. Donohue today in his annual State of
American Business address. He called on lawmakers to exert leadership
in an election year by enacting policies that will drive private-sector
growth and create jobs.

“As we begin 2012, the state of business is improving, but it is
doing so weakly, slowly, and insufficiently to put enough of our country
back to work,” said Donohue. “We are still down 6 million jobs from the
start of the recession. We must grow faster. And we can-if leaders in
Washington work with the private sector to spur growth and create jobs
without increasing taxes or adding to the deficit.”

Donohue said businesses large and small are already driving the
recovery and are eager to invest, compete, and hire more if government
would sweep away a number of impediments to growth and investment. “Real
leaders understand that Americans can have big differences in philosophy
but still find common ground,” he said. “This nation has always
succeeded when we have worked together.”

While stressing cooperation and finding common ground, Donohue said
the Chamber would hold lawmakers and candidates accountable for their
positions on jobs and economic growth through its most aggressive voter
education effort in the institution’s 100-year history. “In overwhelming
numbers, Americans believe that the country is on the wrong track,” he
said. “They want their leaders to lead, to find solutions to our
problems, and to stop playing political games with people’s jobs,
livelihoods, and life savings.”

Donohue’s speech outlined five priorities that the Chamber will
address to boost America’s competitiveness in the global economy:

–Producing American Energy and Rebuilding Our Infrastructure:
Approve the Keystone pipeline to put up to 250,000 Americans to work
over the life of the project while preventing the EPA from enacting new
regulations on fracking that sabotage a natural gas revolution. Finish
FAA reauthorization, which is more than four years delayed, renew
SAFETEA-LU before it expires in March, deploy the NextGen air traffic
control system, and invest in our water infrastructure.

–Expanding Trade, Investment, and Tourism: Renew Trade Promotion
Authority in order to complete a Trans-Pacific Partnership (TPP)
agreement with eight of our best commercial partners in the booming
Asia-Pacific region, grant permanent normal trade relations with Russia,
and move on trade deals with Brazil, Egypt, and India. Advance bilateral
investment treaties and expand visa-waiver programs to restore America’s
share of the travel market to 2001 levels, creating 1.3 million new
jobs.

–Advancing Regulatory and Legal Reform: Pass the Administrative
Procedure Act to restore sound science, quality data, and common sense
to the regulatory system while curbing regulatory overreach by EPA and
the National Labor Relations Board. Stop the expansion of liability at
home and abroad that is sucking the vitality out of our nation’s job
creators.

–Developing an Innovation Agenda: Protect America’s intellectual
property-related industries and its 19 million workers by passing
legislation cutting off rogue websites from the U.S. marketplace. Reform
our failing schools, enact a globally competitive tax system, and fix
our broken immigration system.

–Controlling Spending and Reforming Entitlements: Make reasonable,
phased-in changes to Medicare, Medicaid, and Social Security in order to
save these programs and keep our commitment to the sick and elderly for
generations to come.

“Our country is superbly positioned for a new era of growth,”
Donohue said. “As growth starts to return, and as we convince our
government to remove some of the impediments, then it will be incumbent
on business to take a few more risks and to make more investments.

“There’s a responsibility for business to stand up for the one
economic system that can restore our nation to growth and prosperity:
American free enterprise,” he said.

** Market News International Washington Bureau: 202-371-2121 **

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