Luetkemeyer Says Tax Relief Essential to Economic Recovery

Statement

U.S. Rep. Blaine Luetkemeyer (MO-9) voted today to stop a massive tax increase scheduled to take effect at the end of the month. Luetkemeyer made the following statement about the passage of legislation that will cut taxes for hard-working Americans:

"This legislation is a first step in mending our economy by stopping job-killing tax hikes. American small business owners have been worried about whether they will be hit by an unprecedented $3.8 trillion tax increase on January 1. The threat of this tax hike has caused many to hold off on creating jobs or planning for expansion in 2011. Fortunately, Congress has begun to make progress on addressing this critical issue, and it is my belief that this bill will pave the way for other Republican efforts to cut spending, repeal the health-care law and help small businesses create jobs. Dragging our feet on blocking these tax increases would be devastating to families and employers, and further delay economic recovery. Uncertain and fluctuating tax policy is not sound tax policy and remains a factor many economists believe is contributing to the sluggish recovery. After the first of the year, it is my hope that we can provide more certainty by making these provisions permanent.

While this legislation is heavily weighted to traditional conservative tax policy and gives Republicans time to push for fundamental tax reform, clearly, there are provisions in the bill that I am concerned about.I look forward to working with the new Republican Majority in January to address these concerns and enact fundamental reform that streamlines the tax code in the very near future."

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