Statement by McCaul on President Obama's visit to Austin

"Texas has maintained unemployment rates consistently below the national average, and one of the most dynamic high tech sectors in the nation continues to thrive. By contrast, when the President visited Applied Materials he brought his agenda which has only served to stifle growth, slow economic recovery and create an heir of uncertainty for companies attempting to expand. While I welcome the President to the 10th District, I also encourage him to look around at what low taxes and fewer government regulations help job-creating innovators to produce.

"High tech is one of Central Texas' and America's greatest economic engines and job producers. As founder and chairman of the House High Tech Caucus I would encourage President Obama to pay particular attention to the needs of the high tech community. Increasing and making permanent R&D tax credits as well as lowering the corporate tax rate are necessary policies for America's tech sector to better compete globally. Repatriation instead of the threat of double taxation would incentivize job creation in the United States instead of overseas and would result in broadening the tax base at home. It is my hope that our future scientists and engineers, many of whom the President met at Manor New Tech, will encounter thriving businesses that have a clear path to growth and innovation by the time they enter the workforce."

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