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Public Statements

Small Business Tax Cut Act

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. McCARTHY of California. I thank the distinguished chairman of Ways and Means. It's an honor to be able to speak on this floor. It's an honor to listen to the debate on both sides. And what's so ironic is that when you listen to the debate, you wonder, what happens here becomes law, but more importantly, do we ever measure, do we ever measure what creates jobs? Do we ever measure in America who creates jobs?

Now, some of you know my story. I actually grew up in a family of Democrats. I got rather fortunate. I didn't have great grades, so I went to junior college. The family didn't have enough money to send me away. I worked through the summer, I took my money, and I created a small business. At the end of 2 years, I then had enough money to pay my whole way through college, so I sold my business.

I applied for a summer internship with my local Congressman, and he turned me down. But today on this floor, I sit elected to the seat I couldn't even get an internship to. That small business paid my way through college. But when I sit and measure and talk and listen to my constituents, they talk about jobs.

They know that there have been 11 recessions since World War II, and every other recession we've come out of it stronger and faster. Even the greatest recession of '82, when interest rates were double digit, and you measured until today, we'd have 13 million more jobs. But the policy holds it back.

So I thought I would go back and I would analyze just the nearest time in America's culture of where we created jobs. So I went back to the end of the last recession, 2001, to the beginning of this recession in 2007. When people look at America, they think that was a pretty good time in America. The jobs grew, the economy was strong, and people were able to buy houses. And I analyzed who created the jobs. Do you realize during that time in America, small business added 7 million jobs? Large corporations cut a million.

So to hear somebody on the floor, Mr. Speaker, say they're some special constituency? Well, I'm very proud to stand with the constituency that will grow jobs. I'm very proud to stand today to cut 20 percent to put people back to work in America.

Mr. Speaker, I will stand proudly behind this bill because statistics, the facts, and the history of America have proven we are the strongest when small business is strongest, we are strongest and create jobs through small business, not through more politics.

Policy matters, small business matters, and jobs in America matter. That's why I tell Members on both sides of the aisle, this is an American bill for American jobs, for small business to be strong again in America, and America will be strong again.

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