Small Business Tax Relief Act of 2010

Floor Speech

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Mr. BOUSTANY. Mr. Speaker, again, I am in my office. This debate begins, and we can't find the actual bill language in electronic form. I understand it is now available, but to have the debate begin I don't think is very fair to Members of this House, and it is not what the American people would expect of us.

I think it is entirely regrettable that--we are dealing with an issue of national importance. This body can act. This body can act in the national interest if we work together, but these kinds of trust-destroying measures are not in the interest of this body or in the interest of the American people.

My objection to the bill still stands. Even though there is a move to incorporate the repeal of the 1099 provisions, I still have a significant objection because we are talking about some very complicated international tax provisions for which we really have not had the kind of hearings necessary to understand the consequences. We should not be doing this type of ad hoc tax tinkering.

We ought to be taking a more comprehensive approach in understanding the economic consequences. These tax provisions, from what I am hearing from those who are trying to engage in international business to create American jobs, will be a job killer. They will destroy American jobs. What we need to do is look at this in a more comprehensive way.

Now, if we haven't had the kind of hearings to vet this, to explore this, how can we expect the American people to understand the complexity of the nature of these tax provisions?

What we ought to be doing is creating jobs. What we ought to be doing is promoting American competitiveness. What we ought to be doing is promoting economic growth and private sector job growth. That is the problem with the bill.

Now, if you have U.S. companies that are trying to compete against foreign-owned companies in a very complex economic environment and if U.S. companies are subject to double taxation, you can call it a loophole. I call it hurting American competitiveness.

The bottom line is we want a Tax Code that promotes private sector job growth. We want a Tax Code that promotes American corporations and businesses that are going to be competitive worldwide to create jobs at the highest standards possible, and we want to see economic growth, which we know will lead to private sector job growth.

So my objection to the bill still stands based on the policy. But I am deeply, deeply regretful and distressed at the way this bill has been taken to the floor of the House this morning.

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