I know Utahns continue to be focused on economic growth and job creation. I agree that it is vitally important to move our economy in the right direction. I voted for the Small Business Tax Cut Act (H.R.9) which passed the House this week. Small businesses have been the leaders in job creation during past economic recoveries. Yet under the current tax code, small businesses have a disincentive to invest in and grow their enterprise. Under this bill, small businesses (1-500 employees) would be allowed to deduct 20 percent of their income from taxes--whether they file as individuals or corporations--up to 50 percent of their W-2 wages for this year. In Utah (as of 2009) there were 56,252 small businesses that would qualify.
As always, I'm eager to hear your opinion on these issues, and other ideas you are willing to share with me. Thank you for taking the time to answer the following brief survey.
2nd District of Utah