Chamber of Commerce Lashes Out at Obama, Congress
Updated at 5:30 p.m. ET
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."
Additionally, the letter calls for reducing the deficit, expanding trade, and easing the regulatory burden put on business as ways to achieve greater economic growth and more jobs.
The letter will be formally released at a Jobs summit today in Washington, where the Chamber of Commerce will talk with business leaders and members of Congress about how best to spur job growth.
Earlier in the day, Vice President Biden will release the administration's latest report on the economic impact of the Recovery Act. This as members of the administration are fanning out around the country to highlight recovery act successes as part of the White House's "Recovery Summer."
The report released by the White House says that the Administration's Recovery Act has created millions of jobs. "As of the second quarter of 2010, the Recovery Act has raised employment by between 2.5 and 3.6 million jobs. This puts us well on track to reach the 3.5 million jobs benchmark by the end of this year."
After the Chamber's letter was released, the White House announced that the president and vice president, along with former president Bill Clinton, will meet with business leaders at the White House "to discuss new ways to create jobs in the private sector and strengthen the partnership between the public and private sectors to make new investments in the clean energy industry."
And tomorrow, the president will also take part in a groundbreaking of an electric battery plant in Michigan which the White House says will create hundreds of construction jobs and help spur the new green energy economy.
White House and Business Leaders: A Rocky Relationship
Update: In response to this morning's letter, White House Chief of Staff Rahm Emanuel and senior White House adviser Valerie Jarrett write to the Chamber of Commerce: "While we may not agree on every single issue, we should always remember that there is much that we agree on and that we are all working together toward the same goal of putting Americans back to work and getting out economy back on track. The stakes are far too high for us to be working against one another."
They go on to say that the rhetoric from the business community "fails to acknowledge the important steps that Administration has taken every single day to meet our shared objectives."
The letter cites the President's National Export Initiative, tax cuts for working families in the recovery act, the push for small business legislation, and policies to restore long term fiscal discipline as steps taken.
The Administration officials say that they will not accept the return to lax regulation over the financial and oil industries. "We will not stand by while oil and gas companies continue to fight needed changes to the outdated regulations that are partially responsible for one of the worst environmental crises in American history."
In concluding, they push for civility and cooperation. "Your responsibility is to your constituent organizations, and ours is to look after the health and safety of the American people and the national interest. Sometimes that leads to disagreements, but it should never prevent and open, respectful and healthy dialogue."
Robert Hendin is a CBS News White House producer. You can read more of his posts in Hotsheet here.
