Expressing the sense of the House that a Contract with America should restore American competitiveness.

Expresses the sense of the House of Representatives that a Contract with America should include a roadmap to restore American competitiveness by:

• simplifying the corporate tax structure with lower statutory rates and no loopholes;
• taxing overseas profits earned by American multinational companies only where they are earned;
• easing the immigration of highly skilled individuals;
• responsibly developing America's shale-gas and oil reserves;
• aggressively addressing distortions and abuses in the international trading system;
• improving American logistics, communications, and energy infrastructure;
• simplifying and streamlining federal regulation; and
• creating a sustainable federal budget, including entitlement reform.