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Public Statements

Small Business Tax Cut Act

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. DOGGETT. I thank the gentleman.

You know, the Republicans are always so much better in the names they give these bills than what's in them. I think in considering this one we have to look at what it is and what it is not.

It is not an economic recovery measure. A nonpartisan analysis has shown that the economic benefits are considered to be so small as to be incalculable.

It is not helpful to sole proprietors, who do not benefit at all from this bill.

It is not a way to reduce the deficit or the national debt. Indeed, this is a measure that will add $46 billion to the national deficit.

We were told only yesterday that because of a pressing national debt, we can no longer provide one source of federal funding for hot meals for seniors through the Meals on Wheels program in Texas, that we could not afford to provide Federal resources that are necessary there on child abuse or on keeping a child with disability at home, or helping seniors maintain their independence, that there just aren't the resources to do that. But today we are told there is $46 billion we can add to the debt for a nice-sounding bill.

What is this bill? It is another failed Republican retread. It is a measure that will help those at the top rather than those who are really struggling to get to the top. I'm concerned about the icehouse on the west side of San Antonio, about the beauty shop in Lockhart, about the auto repair shop in San Marcos. But those are not the places that will receive the principal benefits of this measure.

Indeed, 125,000 millionaires in this country will get more in tax benefits
out of this than many of the owners of those businesses earn during an entire year, in fact, more than the median income throughout San Antonio, Austin, and central and south Texas.

What this measure is is a boon.

The SPEAKER pro tempore. The time of the gentleman has expired.

Mr. LEVIN. I yield the gentleman an additional 30 seconds.

Mr. DOGGETT. It will be a boon to highly paid professionals, private equity firms, hedge fund managers, and professional sports teams. I think they've received enough economic benefit in the past with the Bush tax cuts.

We ought to be focusing our support for small businesses not on those who are already at the top and should be contributing a little to the shared sacrifice necessary to get our national debt under control and meet basic human needs.

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