Small Business Tax Cut Act

Floor Speech

BREAK IN TRANSCRIPT

Mr. RAHALL. Mr. Speaker, I support tax and regulatory policies that help small businesses attract investment and create jobs, but I also believe that we in the Congress must be responsible stewards of taxpayer funds.

I voted against H.R. 9 because it would spend an enormous amount of money without any requirements that the funds be invested in job creation or even invested in the American economy. Any company that receives the tax benefit provided by this bill could use it to bolster profits while laying off workers and shipping American jobs overseas. Half of the tax breaks would go to only 0.3 percent of taxpayers, those with incomes exceeding $1 million, costing $46 billion while the rest of our Nation is forced to endure the impact of painful spending cuts in programs important to working middle-class families. That's hardly fair and certainly not right.

This measure is more about scoring political points in an election year--trying to play gotcha--when we should be trying to move forward on measures that would give a real boost to job creation and economic growth.

BREAK IN TRANSCRIPT

Source