The 16th item promised in the Republican Contract with America:
The job creation and wage enhancement act: Small business incentives, capital gains cut and indexation, neutral cost recovery, risk assessment/cost-benefit analysis, strengthening the Regulatory Flexibility Act and unfunded mandate reform to create jobs and raise worker wages."
This is another very complicated promise that must be broken into its compnent parts.
1st: Provide small business incentives. Either 6 of 10 or 7 of 10 new jobs are created by small business today. Unfortunately over 90% of all incentives are given to LARGE businesses. This is certainly a broken promise.
2nd: Capital gains cut and indexation. This was promised and it was successfully implemented by The Republicans.
3rd: Neutral cost recovery was promised. Basically, this means that everything has to be revenue neutral. This promise was shattered into a million pieces! Congress is using even more accounting tricks and sunset provisions then ever before!
4th: Risk assessment/cost-benefit analysis was promised. This promise was badly broken as well. Accounting tricks have become even more prevelent under The Republicans.
5th: Strengthening the Regulatory Flexibility Act. This was intended to DECREASE government regulation. Unfortunately, The Republicans have INCREASED government regulation at a faster rate then The Democrats ever could. This is a major failure.
6th: They promised unfunded mandate reform. This is another huge failure. They are creating unfunded mandate after unfunded mandate. This is a major problem with Congress.
This promise is an almost complete failure.
Score of Republican Contract with America:
Broken Promises 11
Kept Promises 5