WASHINGTON, Jan. 21, 2015 /PRNewswire-USNewswire/ -- Today, The Latino Coalition Chairman and Former Administrator of the U.S. Small Business Administration Hector Barreto, made the following statement regarding President Obama's State of the Union Address:
"The President's State of the Union address once again fuels the fire of class warfare," said Hector Barreto, TLC's Chairman and Former Administrator of the U.S. Small Business Administration. "History has proven that America has exceptional economic potential, but ever since this President has taken office, that potential has been put on hold. Wealth inequality has deepened during this presidency. And Federal Reserve Data shows that the net worth of the middle class has decreased by 19% and middle class income has decreased 5% from 2010 - 2013."
"The lofty rhetoric is more of the same. Mr. President, Americans have been hurting, and you, along with Congress are responding with the same stale solutions— a tax hike of $320 billion in the next 10 years. The American people repudiated the same old, same old during the last elections and last night the State of the Union Address doubled-down on policies that would continue stifling economic growth. What America needs is a constructive and stable tax policy, reigning in on the reckless spending, a reduction of government regulations on small business and progress in job creation in order to generate jobs, increase wages and lower the costs of healthcare and energy. The President needs to take cues from President Clinton and commit himself to reaching across the aisle in order to bring about change that will produce a growing and vibrant America empowered by a Presidential legacy that will seek to lift this nation to what it once was," Barreto added.
ABOUT THE LATINO COALITION- The Latino Coalition (TLC) was founded in 1995 by a group of Hispanic business owners from across the country to research and develop policies relevant to Latinos. TLC is a non-profit nationwide organization with offices in California, Washington, DC and Guadalajara, Mexico. Established to address policy issues that directly affect the well being of Hispanics in the United States, TLC's agenda is to develop initiatives and partnerships that will foster economic equivalency and enhance overall business, economic and social development for Latinos. Visit www.thelatinocoalition.com.
SOURCE The Latino Coalition