Today, as millions of Americans race to file their taxes, Congressman Stutzman issued the following statement.
"As a small business owner, I've seen firsthand how the current tax code creates uncertainty and hampers productivity," said Stutzman. "In 2010, the code was changed 579 times, an average of more than once a day. It's no wonder that Americans spent over 6 billion hours trying to navigate Washington's maze. That's 6 billion hours not spent on job creation or innovation. Our job creators need to be looking for new opportunities, not looking over their shoulder at the tax man. Yesterday, when millions of Americans trudged through forms, booklets, and receipts, the Senate had the audacity to vote on a misguided tax hike that would add another layer of complexity to the tax code. This week, my colleagues and I in the House will vote to lower taxes on small businesses. Hoosiers deserve a tax code that is fair, simple, and competitive. This Tax Day ought to be a wake-up call to Washington."
Yesterday, the Senate voted on President Obama's "Buffett Rule" tax which would only reduce our nation's projected deficits by 0.4% and increase the burden on small businesses. In stark contrast, the House will vote this week on H.R. 9, the Small Business Tax Cut Act of 2012. This legislation would allow small businesses with fewer than 500 employees to deduct 20% of their income from their taxable income.