Washington thinks they know best how to create jobs. They think more government regulation and more taxation will lead to more jobs. However, it's really the people who create jobs, not Washington bureaucrats.
Small businesses are going to continue to struggle as long as Washington thinks they can tax and regulate our way to economic recovery. That's why, I voted for the Small Business Tax Cut Act on April 19th. This bill would help small businesses reduce their tax burden and gives them more opportunities to create jobs.
The Small Business Tax Cut Act will give small businesses with fewer than 500 employees a tax deduction of 20 percent of their income, which will free up critical funds for them to hire new employees. Currently, cash-strapped small businesses face federal tax rates as high as 35 percent. It is estimated that 22 million small businesses will benefit from this tax cut.
Right now the bill is stuck in the Senate where most good bills go to die. We need to make sure that now that the House has done their job, the Senate will do theirs.