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Job Protection and Recession Prevention Act of 2012

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. REED. Mr. Speaker, I rise today in support of the proposed legislation to make sure that we do not increase taxes on any Americans come the end of this year. I think it's prudent, it's responsible, and it's the right message to send to America, that we are going to stand with every American and every small business owner across the country and say, end of the year, no tax increases.

And I appreciate my colleagues on the other side of the aisle and their passion and their commitment to raising taxes. They get to choose which threshold, 200, $250,000 or more. But it's clear to me that there's a clear distinction that the American people will have an opportunity to decide come this November between my Democratic colleagues across the aisle and this side of the aisle.

My Democratic colleagues across the aisle raise taxes as part of the solution going forward. This side of the aisle, I'm proud to stand, Mr. Speaker, to say ``no'' to raising taxes on any American moving forward.

Now, the gentleman had recognized and said that some of these tax increases that we're talking about in regards to businesses are not the mom-and-pop shop.

Well, I'll tell you something. I just had a conversation with Dick Clark from my district, an owner of Villager Construction. That's a mom-and-pop shop. Sterilator Company out of Cuba, New York, in my district. That's a mom-and-pop shop. Those are people that have told me that one of their greatest concerns as small business owners is the tax burden that they're going to face next year.

Let's not stand for rhetoric. Let's do the responsible, prudent thing and say ``no'' to tax increases. And I leave it up to the American people who I believe are hardworking taxpayers who are not stupid. They know what the distinction will be by the end of this year and next year when they come to the voting booth in November, that we stand for no tax increases, and my colleagues on the other side of the aisle are going down the path of let's raise taxes.

Now is not the time to raise taxes in an economic climate when people are struggling and we're trying to have the job creators have the capital so that they can put people back to work for today and tomorrow.

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Mr. REED. I thank the chairman for yielding.

I rise in opposition to the substitute amendment that we're debating here, Mr. Speaker. The reason why is, it's clear the Democratic substitute amendment that we're discussing is a further expansion of tax increases that the Senate passed recently. I'm opposed to those tax increases.

We're dealing with a situation where the proposed amendment will raise the estate tax and take 55 percent of our hardworking Americans' assets when they pass away. They are raising taxes on dividends and capital gains at a time when senior citizens rely on those most in these dire economic times. They also seek to raise taxes on those making $200,000 to $250,000 and above. Raising taxes on those individuals goes right to the heart of our small businesses across America, coast to coast, North to South.

In this dire economic time, I actually agree with President Obama when he signed the tax rates in December 2010, when he said, In dire economic times, we don't raise taxes on Americans.

I just ask my colleagues to join me and say, Reject this substitute, freeze the Tax Code, and deal with the issue of comprehensive tax reform over the next 12 months, and put no Americans in harm in having their tax bill increased at the end of this year.

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