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Public Statements

Job Protection and Recession Prevention Act of 2012

Floor Speech

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Date:
Location: Washington, DC

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Ms. VELÁZQUEZ. Thank you, Ranking Member, for yielding.

Mr. Speaker, I rise in opposition to the bill before us today.

Republicans love to focus on small businesses when it's convenient for them. They claim it is imperative to pass today's bill because, if we don't, small firms will be harmed. However, today's bill is only good for millionaires and billionaires, not the Nation's job creators.

The argument that a partial extension of tax cuts hinders small business hiring relies on distorted facts. Republicans are using a warped definition of a ``small firm'' that counts Mitt Romney as a small business owner. I don't think the average person considers 237 people whose incomes average more than $200 million as small business owners.

Contrary to Republican claims, this is not what the American taxpayers think of when they hear ``small business.'' When most people think of entrepreneurs, they envision small manufacturers, architects, Main Street restaurants, and hardware stores--those Americans who risk their savings to create jobs in our communities. Tax cuts should go to real small businesses that are creating jobs, not to people who are simply moving money around for their own profits.

Instead of addressing the top concern of small business owners--a lack of demand for their goods and services--this bill simply gives more tax cuts to the very rich. The numbers don't lie. Over 80 percent of the value of these cuts goes to millionaires. That is an average tax cut of $164,000.

Let's call this bill what it really is--a tax cut for the rich, not for small businesses. That is not what our economy needs. Vote ``no.''

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