Today, Congressman J. Gresham Barrett (SC-03) took to the House floor to speak against H.R. 4849 Small Business and Infrastructure Jobs Tax Act. This legislation will raise taxes on businesses by $16 billion, limiting businesses' ability to expand and create new jobs. The full text as prepared for delivery can be found below:
"Mr. Speaker, today I rise in opposition to H.R. 4849, The Small Business and Infrastructure Jobs Tax Act. This bill will raise taxes by as much as $16 billion. This will limit businesses' ability to expand and create new jobs.
This massive tax increase will deal a devastating blow to the nation's and South Carolina's already struggling economy.
Democrats say they are trying to introduce legislation that will help foster job creation. But, if this is truly the case, then why does H.R. 4849 place new taxes on companies doing business in the US during an economic downturn?
Eighty percent of this bill's funding goes to growing state and local governments, which we all know will not solve our nation's abysmal unemployment rate. Our nation's economy is already on life support; we cannot afford to enact any legislation that further jeopardizes job creation.
It's time to put an end to excessive taxing and runaway spending. Instead we should focus on time-tested principles, such as extending the 2001 and 2003 tax relief provisions which expire at the end of this year.
Mr. Speaker, I came down to speak on the House floor this evening because someone needs to stand up for American small businesses. In fact, there are other places I could be right now, but this is exactly where I need to be tonight--defending American jobs.
The truth is this bill will not strengthen our economy or create more jobs; instead, these bills will create unnecessary financial hardships for businesses already struggling to survive.
For months, Democrats have been pushing job killing legislation; everything from the stimulus to the government takeover of health care. It's time for Congress to stop spending and taxing excessively. We should start working together on creating viable solutions that create more of the private-sector jobs that our country, and especially South Carolina, so desperately need."