Kim Reynolds: “Madam Speaker, this Congress has been debating the American Jobs Creation Act of 2004 throughout this summer, all the…”

“Madam Speaker, this Congress has been debating the American Jobs Creation Act of 2004 throughout this summer, all the while European Union sanctions on American exports have been quickly rising at a rate of 1 percent per month and now stand at a staggering 12 percent. They will continue their constant uptick at an additional 1 percent per month until the FSC-ETI is repealed or the rate reaches 17 percent. Madam Speaker, these sanctions are unnecessarily costing domestic manufacturers, small businesses, and farmers billions upon billions of dollars. They are raising the price of 1,600 categories of U.S. goods sold outside the United States, and they are hindering the exporting capability of multiple industries. Farm products, jewelry, steel, tools, glass, toys, and clothing are among the goods subject to the penalty tariff. We simply cannot delay in delivering the needed relief to the producers and manufacturers of these products who have been subjected to the true financial hardship of this situation. Without our swift action, many small businesses and other employers face financial devastation and we risk job losses.”