WASHINGTON – U.S. Rep. Diana DeGette (CO-1) issued the following statement today after voting against H.R. 9, the Small Business Tax Cut Act.  According to the Joint Committee on Taxation, the measure would have little effect on job creation, but would nonetheless increase the deficit by almost $46 billion.  

“With far too many people still feeling the pain of the Great Recession, my first priority in Congress is getting America back to work.  Despite this bill’s deceptive title, it fails to support the small businesses that need our help the most, while blowing a $46 billion hole in our national deficit.  It gives 125,000 millionaires an average tax cut of $58,800, but offers nothing to the struggling Mom-and-Pop stores that generated no taxable income in 2012.  Experts from across the political spectrum agree: this irresponsible bill does not create jobs or support small business, but does open yet another loophole to lavish tax breaks on the wealthiest among us.    

“As I travel throughout the district, small business owners tell me their number one barrier to growth is stagnant demand.  Rather than offering broad tax advantages to companies and corporations that will not use them to create jobs, our focus should be on strengthening and empowering middle-class Americans.”       

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