Congressman Adrian Smith (R-NE) today released the following statement regarding the bipartisan agreement on taxes between President Barack Obama and Congressional leaders:
"Unless Congress and the President act, a $3.8 trillion tax hike is set to take effect on January 1, 2011. This would be the largest tax increase in our country's history, and the average Nebraska family will see its federal income taxes skyrocket from $3,461 to $5,090 - an increase of $1,600.
"It is frustrating to see such an important issue delayed until the last minute - creating an environment of uncertainty to our small business owners. We shouldn't waste another minute preventing this job-killing tax hike on small businesses," Smith said.