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Public Statements

Introducing the Jumpstarting our Business Sector Act of 2011 (Jobs Act)

Floor Speech

By:
Date:
Location: Washington, DC

* Mr. BROUN of Georgia. Mr. Speaker, today, I introduced the Jumpstarting Our Business Sector Act of 2011 (JOBS Act). This legislation permanently eliminates capital gains and dividends taxes, as well as the corporate tax rate. Additionally, it allows for 100 percent of business expensing for 2012.

* As our Nation's unemployment continues to hover around 10 percent and the federal ``stimulus'' bill passed last Congress did little to improve our economy, it is time that Congress does what should have been done in the first place: help small businesses create jobs.

* Abolishing capital gains and dividend taxes would be a much more effective means of stimulating the economy than more government spending. The elimination of these taxes would not only provide a short-term ``stimulus,'' but they would encourage new long-term investment and growth.

* By the end of 2011, the United States will have the highest corporate tax rate of the 34 countries in the Organization for Economic Cooperation and Development (OECD). Eliminating the corporate tax rate will immediately increase the competitiveness of our economy, attract more investment, and lead to job creation.

* In addition, extending 100 percent of business expensing for 2012 will provide an incentive for businesses to invest more money back into the business, setting the stage for expansion and the creation of new jobs.

* Small businesses are the engine of our economy and create the vast majority of new jobs in this country. And yet, nothing that the Federal Government has done so far to address our economic crisis has been directed towards helping our business community.

* We have seen the effects of unchecked and unwarranted Federal Government spending on our economy and employment. Now is the time to once again put our trust in the small businesses and entrepreneurs and to get the Federal Government off their backs and out of their way. I believe the JOBS Act will be a positive step towards that goal.


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