CONGRESSWOMAN JOHNSON LAUDS TAX CUTS & ACCESS TO CAPITAL FOR SMALL BUSINESS JOB CREATION

Press Release

Today, Congresswoman Johnson voted to spur economic growth and create 500,000 new jobs by encouraging the development of American small businesses. The Small Business Jobs Act increases much-needed lending to millions of small businesses, and offers 8 new tax incentives to companies, so that they may expand, hire, and fuel our economy. It also keeps jobs in America by closing tax loopholes that reward corporations that ship jobs overseas.

"Small businesses are the foundation of our economy and are an integral part of creating jobs and rebuilding the economy for the future," said Congresswoman Johnson. "We owe it to them to ensure that they have a business environment in this country that helps them grow and flourish. Increased access to capital and new tax cuts will not only keep jobs in America, it will allow small businesses to make it in America."

The Small Business Jobs Act will help America's 27 million small businesses create new jobs and grow with $12 billion in tax cuts. It will make Main Street businesses more competitive with big corporations by leveraging up to $300 billion in private sector lending for small businesses, along with state grants for small business lending. With tax cuts and access to more capital, our nation's small businesses will be able to put more Americans back to work. The Small Business Jobs Act takes another step to end job outsourcing by ending tax incentives for companies that ship jobs overseas. Finally, this bill is fully paid for and will not add a dime to the deficit.

"In spite of rampant Republican opposition, obstructionism, and delay, we have passed a bill that moves America forward," said Congresswoman Johnson. "While Congressional Republicans are fighting to protect big corporations, Big Oil, and Wall Street, we are fighting for Main Street and job creation. We won that fight today, and as a result, small businesses in Texas will win too."

In fact, in the same day that Congressional Republicans stood at a small business in Virginia to introduce their new agenda that calls for tax breaks for America's small businesses, they came back to Washington to vote against tax breaks for small businesses. That means Republicans have voted against 15 of the 16 tax breaks for small businesses that this Congress has enacted

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