Congressman Jon Runyan (R-NJ) issued the following statement regarding the House of Representatives passing an extension of the current tax
Congressman Jon Runyan (R-NJ) issued the following statement regarding the House of Representatives passing an extension of the current tax rates.
"With 41 months of unemployment above 8%, we are in the midst of the worst economic recovery in the nation's history. Now is not the time to raise taxes on anyone. Maintaining the current tax rates is vital to encouraging economic growth and boosting small businesses. A recent analysis by Ernst and Young concluded that increasing taxes would result in a $6.5 billion drop in economic output and a loss of nearly 21,000 jobs in New Jersey alone, while ABC News reported that nearly 900,000 small businesses would be hit with a tax increase nationally. As you can see, it is clear that extending the tax cuts for every American is the only proper course of action to help our economy grow. It is my hope that the United States Senate realizes their mistake and accepts the House version and pass the full extension because we should not be increasing taxes on anyone or any business in the current economic climate."