Multi-industry letter supporting the No Cost Stimulus Act of 2009
March 11, 2009
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
The undersigned trade associations, which represent businesses from virtually every sector of the American economy, strongly support the "No Cost Stimulus Act of 2009." The signatories to this letter believe that the way out of our current economic crisis is to create wealth through additional jobs, lower energy prices, and higher gross domestic product (GDP). The "No Cost Stimulus Act of 2009" accomplishes these goals by granting access to our nation's vast energy resources and streamlining the permitting and approval process for infrastructure projects. Most importantly, it does so without borrowing or issuing new debt for which our children and grandchildren will be responsible.
According to the bill's drafters, the "No Cost Stimulus Act of 2009" could create over 1.5 million new jobs—in particular, the kind of long-term, well-paying and sustainable jobs whose creation does not cannibalize other good manufacturing jobs. The bill could generate trillions of dollars in royalties and tax revenues for the federal government to pay down our now-exorbitant federal debt. And it could result in a $10 trillion increase in U.S. GDP, just the kind of kick-start America's economy needs.
The bill will also cure two pervasive problems with U.S. energy policy: inadequate access to domestic resources, and the overlapping, redundant regulation and expensive process for obtaining the necessary approvals to complete a project. Our nation's current policy of limited access fosters a greater reliance on foreign sources of energy. If enacted, this bill will enhance America's energy security by maximizing domestic energy resources, thereby reducing our dependence on foreign oil and reducing the trade deficit. Moreover, the bill ensures that roads, bridges, power plants, transmission lines, office buildings, manufacturing plants and all other construction needed to revamp our economy will be completed quickly, easily, and without the potential for abuse by activist groups.
The road to economic prosperity runs through access to our nation's vast energy resources. Therefore, the undersigned associations call on Congress to enact the "No Cost Stimulus Act of 2009," and increase our nation's energy security while removing the red tape that stands in the way of true progress.
Alliance for Worker Freedom
Americans for Tax Reform
National Association of Manufacturers
National Black Chamber of Commerce
U.S. Chamber of Commerce