Jobless Claims Rise to 500,000; Pro-Growth Policies Needed

Visiting Paragon Medical in Indianapolis yesterday, Dan Coats discussed what he has heard from businesses: “They’re worried about higher taxes, they’re worried about more regulations, they’re worried about the impact of health care, and the people I talk to basically say, ‘We’re not going to make decisions to hire until we get all this sorted out.’”

That scenario became even clearer today on the news that initial jobless claims climbed to 500,000 last week – the highest level in nine months. According to Reuters , the news is “yet another setback to the frail economic recovery.”

Today’s announcement underscores the importance of implementing pro-growth policies to alleviate the uncertainty felt by businesses – small, medium and large – in Indiana and across the country.

Yesterday, Dan Coats released his Plan for Economic Growth & Job Creation to do exactly that. By lowering taxes, reducing regulations and encouraging innovation, we can get America back on track and Hoosiers back to work.

The Indianapolis Star had this to say on the release of Dan’s plan:

Coats, the Republican nominee for U.S. Senate, said his proposals

include continuing the tax cuts enacted under President George W.

Bush; simplifying the tax code to two brackets with fewer exemptions;

offering incentives for business research, development and innovation;

cutting the corporate tax rate; and cutting regulations.

Straining to be heard over the constant loud buzz of equipment as he

campaigned at Paragon Medical, a medical parts manufacturer in

northern Marion County, Coats said that one key point of his plan calls

for a do-over of the recent health-care reforms. That bill, he said,

contained tax increases that affect businesses such as Paragon and

discourage businesses from hiring new employees.

Today’s Events

Dan will make stops in Terre Haute, Brazil, Spencer and Bloomington today as part of his Hoosier Voices Tour and to discuss his Plan for Economic Growth & Job Creation.

In Terre Haute, Dan will visit Glas-Col, a company specializing in laboratory products and industrial heating and mixing equipment, that has seen a sharp dip in sales due to the recession and uncertainty felt by their client base. This afternoon, Dan will speak to the Bloomington Chamber as part of their 2010 Federal Focus event series.

[Disclosure: Pete Seat is the press secretary for the Coats for Senate campaign.]