LeMieux: Raising Taxes Would Spell Disaster for Small Business

Press Release

U.S. Senator George LeMieux (R-FL) today spoke on the floor of the United States Senate about his support for extending tax relief provisions that are set to expire at the end of this year. LeMieux highlighted the negative impact raising taxes during a recession would have on the economy. The discussion on ways to help the economy came during debate on the Small Business Lending Act, a measure Senator LeMieux helped author that will cut taxes for small business and free capital for small business investment.

"We need to work together to be problem solvers. It doesn't make any sense to raise taxes during a recession," LeMieux said. "It doesn't make any sense to raise capital gains taxes and create a chill on investment. It doesn't make sense to raise taxes on small business people who create two out of every three jobs in this country, and even more than that in Florida. Working together to extend the current tax policy would be good for Florida and good for the country."

BACKGROUND: Senator LeMieux met with several Florida small business owners over the August recess who are either struggling to make ends meet or not able to get the capital they need to expand their business. Yesterday, he voted alongside only one other Republican to move forward the Small Business Lending Act, a bill to help Florida's small businesses grow their operations and create more jobs. The bill contains provisions co-authored by Senators LeMieux and Mary Landrieu (D-LA) that will cut taxes for small businesses, free up capital for community banks so they can lend to small business owners, and increase small business export promotion tools. The senator believes clearing bureaucratic hurdles for small businesses will help grow Florida's economy, and the economy of the United States. A great number of Florida business owners and organizations support Senator LeMieux's efforts including the Associated Industries of Florida, the Florida Chamber of Commerce, the Florida Realtors Association, the Florida Bankers Association, Enterprise Florida, 60 Plus Association, the Florida chapter of the National Federation of Independent Business, and the Florida Auto Dealers Association.

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