Chamber of Commerce Lashes Out at Obama, Congress [View All]

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Source: CBS News

On a day the White House is again touting the success of the stimulus program, the business community is lashing out saying the Administration has "neglected America's number one priority" - job creation.

In a scathing open letter to President Obama, Congress and the American People, the U.S. Chamber of Commerce says that once the economy was stabilized, the White House and Congress took their "eyes off the ball."

"Instead of continuing their partnership with the business community and embracing proven ideas for job creation, they vilified industries while embarking on an ill-advised source of government expansion, major tax increases, massive deficits, and job-destroying regulations," the letter says.

The letter goes onto say that the uncertainty created by large deficits, possible tax increases and increased regulation, has hurt job creation nationwide. The Chamber proposes specific steps that can help turn the tide, specifically tax relief. "We therefore urge Congress and the administration to immediately support at least a temporary extension of all the tax relief passed in the prior decade. In one bold, swift move, this would substantially boost investor, business, and consumer confidence and would infuse our economy with fresh momentum."

Read more: http://www.cbsnews.com/8301-503544_162-20010506-503544.html