Let's Talk About Jobs
Project Lawsuit Abuse loves talking about jobs. And who doesn’t right now? At a time like this, we’re relieved that the jobs issue seems to be on everyone’s minds.
Let’s talk about President Obama’s proposed American Jobs Act. While the legislation includes provisions aimed to aide small businesses – hopefully allowing them to hire and grow – the plan emerges as just another missed opportunity to institute common sense tort reform.
Tort reform should be included in any jobs plan that moves forward in Congress. If the United States is serious about job creation, we need to look at where jobs are being created and why they’re being created in those places.
Consider our favorite example of how reform works. One of the main reasons Texas has been so successful in attracting businesses and jobs to the state is legal reform. According to the U.S. Bureau of Labor Statistics, Texas leads the country in job creation over the past year, far out-pacing any other state. Texas also had more job growth than any other state from 2000-2010.
Richard Fisher, the head of the Federal Reserve Bank of Dallas, recently noted that since the nation’s recovery began, 38 percent of all jobs created in America have been created in Texas…and that the “most important” contributor to that job growth is civil justice reform.
Tort reform is needed to help ease the economic strains of nuisance lawsuits on businesses – both big and small. As we’ve seen in states like Texas, reform works.
Common sense legal reforms create jobs and keep the legal system fair, ensuring that it is used for justice and not greed.