Mr. BARRETT of South Carolina. Madam Speaker, I rise tonight in opposition to H.R. 4849, the Small Business and Infrastructure Jobs Act.
This bill will raise taxes by as much as $16 billion and will limit business' 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 that is truly the case, then why does H.R. 4849 place new taxes on companies doing business in the U.S. during an economic downturn?
Eighty percent of the 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, Madam Speaker. We cannot afford to enact any legislation that further jeopardizes job creation.
It is time to put an end to excessive taxing and runaway spending. Instead, we should focus on the time-tested principles, such as extending the 2001 and 2003 tax relief provisions which will, just by chance, expire at the end of this year.
Madam Speaker, I came down to the floor this evening because someone has got to stand up for America and small businesses. In fact, there are other places I am really supposed to be right now, but this is exactly where I need to be right now: defending American jobs.
The truth is, this bill will not strengthen our economy or create more jobs. Instead, it will create unnecessary financial hardships for businesses that are already struggling to survive.
For months, Democrats have been pushing job-killing legislation, everything from stimulus to a government takeover of health care. It is time for Congress to stop spending and taxing excessively.
We should start working together on creating viable solutions that create more private sector jobs that our country and especially South Carolina so desperately need.