Dr. Dan Benishek (MI-01) today released the following statement after voting in support of the "Job Protection and Recession Prevention Act of 2012" (H.R. 8), a bill that will extend all current federal tax rates and prevent massive tax increases on American families and businesses:
"Northern Michigan's working families and small business owners cannot afford a massive tax increase next year. In this difficult economy, folks in Northern Michigan are finding it tough to pay their bills and provide for their families. The last thing they need is an extra tax bill of over $2,000 per year.
I have lived in my Northern Michigan my whole life. I know that families throughout the District are struggling to plan their budgets when they don't know what their tax bill will be next year. Even worse, Michigan families are faced with the fact they may lose their jobs if these tax increases are enacted.
These tax hikes will be just as bad for our small businesses. As a doctor who ran my own small business, I know raising taxes on our job creators will limit economic growth, hinder investment, and lead to fewer jobs for those in Northern Michigan. It is time we provide some real economic certainty to our job providers and allow them to grow and hire more employees.
Economic experts have warned these devastating tax hikes will destroy as many as 710,000 jobs nationwide, including 21,000 jobs right here in Michigan. We cannot allow this to happen. Now that the House has taken action to prevent these tax hikes from hurting our nation's economy, I am hopeful the Senate and the President will recognize the need to act and extend all current tax rates for the sake of America's families and small businesses."