Today, U.S. Representative Jim Renacci (OH-16) released the following statement upon passage of H.R. 8, The Job Protection and Recession Prevention Act:
"The past three and a half years have been a nightmare of tax uncertainty, peppered with ever-growing piles of red tape. If Congress and the President fail to act now, Americans will face a massive tax increase just four months from now. As a business owner for nearly 30 years, I know the fiscal cliff we are rapidly approaching will have a devastating effect on Ohio's economy.
"Some in Washington want to use the coming crisis as a way to score political points. They seek to raise taxes on so-called "high-earners' to pay for more bloated government programs at a time when we are repeatedly running trillion dollar deficits. The unfortunately reality is that in their rush to win an election, they are willing to increase taxes on almost a million small businesses who find themselves caught in the cross-fire. More than 700,000 Americans could find their jobs turned into collateral damage, all in name of a political talking point.
"With our vote in the House today, we have made it clear that no American business or taxpayer should be further harmed or held hostage by the big-spenders in Washington. With an unemployment rate that has not dropped below eight percent in 41 months and tens of millions of Americans searching desperately for work, now is certainly not the time for more tax hikes on hard working Americans."
Rep. Renacci is serving his first term in the U.S. House of Representatives, where he is a member of the Financial Services Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.