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Mr. BOUSTANY. Mr. Speaker, I rise in support of this very important legislation.
The administration and congressional Democrats seek to raise taxes on America's families, small businesses, and job creators. There's a very clear choice here: either we can let small business owners, the job creators, America's entrepreneurs, create jobs, or we can follow the path they're advocating over here and tax small businesses.
I stand in strong support of creating American jobs. Over 940,000 business owners will see higher taxes if the President and Washington Democrats are allowed to raise the top two rates. This means over half--over half--of our Nation's small businesses will see higher taxes at a cost of over 700,000 fewer jobs for Americans--over 700,000 fewer jobs for Americans.
Allowing these tax cuts to expire will hurt middle class families. If we pass this, the average taxpayer in my State of Louisiana will see tax relief of almost, on the average, about $1,800. The average family of four earning $50,000 per year can face tax increases of over $2,200 per family if these cuts expire. A single parent earning $36,000 per year could see tax increases of $1,100 if these provisions expire.
Mr. Speaker, this administration continues its assault on the American family and American businesses with its tax-and-spend policies. Our country can't afford it. Certainly, America's families and businesses can't afford it.
What we need is this: a 1-year extension to allow us to move forward with a real comprehensive approach to tax reform.
We have a real opportunity to do what's right for America, to promote American competitiveness. This is the moment. Let's seize it. Let's do it. We need to take this step today to get us where we can move to that next step, that next point.
So I urge my colleagues on both sides of the aisle, let's quit dilly-dallying around with this. Let's show some leadership for the American people. They want us to step up and be leaders and solve these problems. Let's step up and be leaders. Let's extend these provisions and move forward with a 21st century Tax Code.
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