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Contact: Amanda Halligan
(206) 275-3438
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Reichert Rejects Repeating Past Mistakes with Another Proposed Bailout
Calls on Congress to Instead Consider Tax Incentives for Investment, Job Creation
Washington,
Jun 17 -
“The idea that somehow Congress can tax and spend this country into economic recovery or stability makes no sense, and repeating past mistakes by enacting what basically boils down to yet another government bank bailout would be reckless,” Reichert said. “There is a much better way to address the problem that small businesses face trying to access the credit they need to survive and grow, and it starts with encouraging investment. That’s why I’m leading the fight to prevent a capital gains rate increase that will stifle investment, and it’s why I recently voted to prevent the carried interest tax hike that would hurt our entrepreneurs and investments in small businesses and new innovations.
“Another approach that Congress could take to help give businesses the funds they need is to support a bipartisan bill I coauthored with Rep. Ron Kind (D-WI). This bill (HR 2910) would modernize outdated tax rules that block millions of small businesses like the 93,000 S corporations in Washington State from attracting job-creating investments. Our small businesses and our citizens don’t need another bank bailout – they need common sense solutions. They don’t need another government bailout program – they need a tax code that creates incentives to take risks to create new businesses and new jobs. I’ll continue fighting for proposals that deliver the recovery our country needs.”
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