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Public Statements

Tax Hike on Job Creators

Floor Speech

Location: Washington, DC

Mr. OLSON. Mr. Speaker, last week in this Chamber, the President challenged a joint session of Congress to pass his jobs stimulus bill. He promised the American people that it would be paid for. This week, we learned that it will be 100 percent paid for through tax hikes on job creators.

Pinnacle Asset Integrity Services is a small business engineering firm employing 100 people in the district I represent in Pasadena, Texas. Pinnacle's president told me that the higher taxes proposed by President Obama would not affect his personal salary, but higher taxes would severely restrict the funds available to him to pay employees while maintaining the reserve cash needed for monthly salaries. The result? Layoffs.

Mr. Speaker, tax hikes on job creators like Pinnacle are simply not the solution. Regulatory certainty and reasonable tax rates will do wonders for job creation. I urge my colleagues to stand with the job creators and reject this tax increase.

Let's get America back to work.

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