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Dems Remain Committed To Job-Killing Tax Hikes Despite Devastating Impact On Job Creators
GOP Keeps Up the Fight to Stop the Uncertainty and Help Small Businesses Create Jobs
Washington
(Nov 12)
Today, House Speaker Nancy Pelosi (D-CA) reaffirmed Democrats’ opposition to stopping the massive tax hike that will hit every American family and small business in less than 50 days. At the same time, businesses across America continue to speak out against the job-killing uncertainty caused by the tax hike, which is making it impossible for them to plan for the future or create jobs. Yesterday’s Milwaukee Business Journal highlights the struggle that job creators are facing:
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“As an S corporation, Inland Power Group Inc., Butler, would be hurt by higher income taxes, said Don Stacy, executive vice president and a minority owner. Profits at S corporations, partnerships and most limited liability companies are taxed as the owners’ personal income.
“With less income, Inland owners would be less inclined to reinvest money into the company on expenses such as equipment and new hires, Stacy said. …
“[S]tacy said the worst part of the current situation is the uncertainty. …
“That uncertainty is causing many business owners to hold off on major decisions, said Doug Pessefall, an attorney with Whyte Hirschboeck Dudek SC in Milwaukee.
“‘Clients want to wait and see what will happen with the tax cuts before they decide how to act,’ he said.”
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While Democrats remain steadfast in their unwillingness to end the economic uncertainty and allow small businesses to get back to creating jobs, Republicans are listening to the American people and keeping up the fight to permanently stop all the job-killing tax hikes:
- “A permanent extension of tax cuts is needed ‘to reduce the uncertainty in America’ that’s chilling business investment and hiring, John Boehner…said today. Asked whether he’s willing to compromise with President Barack Obama on the tax reductions enacted in 2001 and 2003, the Republican leader said he wants the cuts, which expire at the end of this year, to be made permanent for all taxpayers.” (Bloomberg,10/10/10)
- “House Republican leader John Boehner signaled Wednesday that he was unwilling to compromise on a permanent extension of the so-called Bush tax cuts, saying preserving current rates is ‘the most important thing we can do to create jobs.’” (Los Angeles Times, 10/10/10)
- “Boehner told reporters today that making the tax cuts permanent, not settling for a temporary extension, will ‘help end the uncertainty that’s stopping employers from hiring more people.’ … ‘You can’t invest when you don’t know what the rules are, when you don’t know what the tax rates are going to be next year. And that’s why making these permanent will be the most important thing we could do to help create jobs in the country.’” (ABC News, 10/10/10)
FIGHTING TO STOP ALL THE TAX HIKES. When Congress returns to Washington next week, Republicans will continue fighting to stop the job-killing tax hikes as part of the Pledge to America, a new governing agenda designed to help create jobs by cutting spending, stopping the tax hikes, and reforming government. Republicans have repeatedly called for the enactment of the entire Pledge to America, and will continue to do so to help our nation’s job creators put the 14.8 million unemployed Americans back to work.
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