Alaskan Congressman Don Young released the following statement today after voting for H.R. 9, the Small Business Tax Deduction Act -- a bill that will allow a small business (fewer than 500 employees) to take a 20% tax deduction:
"Whenever I go home to Alaska, small business owners from across the state seem to agree on one thing -- they are both overtaxed and overregulated. Instead of having money to expand and hire new employees, small businesses are instead wary of spending that money, fearing new taxes and regulations coming from Washington.
"This bill won't completely solve our economic problems, but it will inject life into America's biggest job creator -- small businesses. If the President and Senate Democrats are serious about creating jobs, then they need to stop trying to raise taxes on America's small businesses and pass this bipartisan job-creating piece of legislation."