Congressman Francisco "Quico" Canseco (TX-23), a former small business owner and strong supporter of pro-growth economic policies, released the following statement in response to President Obama's call for raising taxes on American families and small businesses:
"President Obama's economic policies of attempting to spend, tax, and regulate our way to economic prosperity have resulted in 41 consecutive months with an unemployment rate above 8% - the worst unemployment crisis since the Great Depression. President Obama has called for doubling down on those failed policies by proposing to permanently raise taxes on hard-working American families and small businesses. While the rhetoric is that these tax increases will only fall on the "rich", in reality they will fall hardest on job creators. In fact, the most recent Internal Revenue Service data shows approximately two-thirds of all pass-through business income -- which is how 75% of small businesses pay taxes, according to the National Federation of Independent Business -- was reported by taxpayers making more than $250,000."
"Instead of calling for policies that seek to divide Americans by picking winners and losers, President Obama should work with the House of Representatives to make sure that no American faces a tax increase at the end of the year. At a time when our economy is stuck in neutral and job creation is stagnant, tax increases aren't the answer. We're one tax increase away from slipping back into recession, not an economic recovery."