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.