The election is over, and we're back to work with a full agenda. Small businesses have a lot riding on the decisions that the President and the Congress will make over the next few weeks. While this stretch through January is termed a "lame duck" session, because Members who aren't returning next Congress are voting on legislation, it is exceptionally important to our nation's fiscal health. We must come together to avert the fiscal cliff -- expiring tax rates and across-the-board spending cuts -- and we're optimistic sensible alternatives can be found before changes take effect on January 1, 2013. If you're curious about what expiring tax provisions may impact your business, take a look at this page on our website.
We're particularly concerned about the impact of the President's proposed tax rate hikes on small businesses and job creation. Small business hiring has already slowed to a crawl under the threat of potential tax hikes, so the prospect of actual tax hikes is a serious matter. One of our primary goals at the Small Business Committee is to advocate for tax relief for small businesses. That includes preventing damaging tax rate increases and identifying targeted spending reductions. Against the backdrop of massive debt and yearly trillion-dollar deficits, we believe spending must be brought under control. A balanced solution would include entitlement and tax reforms. The nation needs real solutions that get beyond entrenched rhetoric to help the economy. We'll keep you informed and keep looking out for America's small businesses.