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Snowe: Uncertainty Hampering Business Investment
02/03/2010 10:55 AM ET  

At a Senate Finance Committee hearing on the federal budget, Maine Sen. Olympia Snowe told U.S. Secretary Timothy Geithner that more certainty about federal policies is crucial to job creation.

Maine Sen. Olympia Snowe yesterday told U.S. Treasury Secretary Timothy Geithner that uncertainty about federal policy is hampering business investment. Snowe made the remarks at a Senate Finance Committee hearing on the federal budget.

Snowe told Geithner that a series of hearings in Maine convinced her that businesses would invest more if they had a better idea what expenses they'll be facing.

"Would you put your money on the line? That's the issue," she said. "And I heard it over and over again, and rightfully so. So until we get certainty on taxes, on regulation, on the issue of health care and how that's, you know, boomeranging off the walls here between the House and Senate, we're not going to experience job creation."

Snowe also called for a jobs impact statement on proposed federal legislation so lawmakers will know the impact a measure might have on job creation.

Geithner said he agrees with some of Snowe's comments, but said what businesses need most "is more confidence there's going to be growing demand for their products."




 

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