Congressman Steve Scalise today issued the following statement regarding a new report by independent accounting firm Ernst & Young that shows President Obama's small business tax hike will destroy more than 700,000 American jobs.
"This latest impartial study confirms that President Obama's proposal to raise taxes on small businesses would destroy more than 700,000 American jobs," Scalise said. "In an economy that's already struggling, President Obama has proven that he's tone deaf to the country's economic woes by calling for more job-killing tax hikes, and this Ernst & Young study highlights what we've said all along -- higher taxes will lead directly to thousands of lost American jobs. Unemployment has skyrocketed above 8% for 41 consecutive months, and this study confirms that tax hikes will cause unemployment to spike even higher. It's time for President Obama to scrap his radical plan to impose billions in higher taxes that will be used to continue wasteful Washington spending.
"President Obama would rather play politics than address the high unemployment by pitting one group of Americans against the other as he calls for billions in job-killing taxes in order to continue his failed practice of more wasteful Washington spending. These tax hikes will hit American families and small businesses while they're down, and it's time for President Obama to abandon his failed tax and spend policies, and work with us in Congress to control Washington spending and ensure that no American sees their taxes increased. The problem in America is not that we are taxed too little, it's that Washington spends too much, and you don't solve that problem by sending Washington even more money to spend in the form of job-killing tax hikes."