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Fox Business - Transcript


Location: Washington, DC

Today, Congressman Eric Cantor (VA-07) participated in the YG Network Summit on Economic Growth and Job Creation In The 21st Century, with fellow panelists Steve Case, Tom Stemberg, Susan Story, and Representative Tim Scott (R-SC). Following the event, Congressman Cantor discussed job creation, pro-growth policies & the payroll tax holiday extension on FOX Business:

On Small Business Job Creation: "Steve Case indicated that it's his belief that the White House is interested in actually doing something to grow the economy and help small business people. I'm all for it. I have said - since the President came to Capitol Hill and announced his jobs program - that we are not going to agree with all of it. We don't agree with more stimulus spending, we don't think that worked. There are plenty of things in his package that we have already passed in the House, where we said, yes, we will embrace that. The President was always about all or nothing, but hopefully Steve is right. I am optimistic."

"If the White House and the President want to do something, now is the time. Before tax day we will be bringing a bill that provides a 20 percent tax cut for small business people. That's a no-brainer because it sends a signal that finally Washington understands that we need to focus on the private sector and growing our economy. I am hopeful that the President will embrace that, the Democrats in the House and Senate will join us in being there for small businessmen and women. That is how we are going to create jobs, that is how we are going to get the economy back to where it needs to be."

On The Need For A Yearlong Payroll Tax Holiday: "I want to see the payroll tax holiday extended for the year. This is where the House Republicans were in December. We are not a party that believes we ought to take more money out of the paychecks of the people who are working right now. The onus is on Harry Reid. Harry Reid needs to finally step up and say he is for extending the payroll tax holiday for a year, and stop all the discussion of 60 days. We can do this. It's not that difficult. It's just like Steve Case said on this panel, we really can do this. These things are not that controversial, but let's set aside those things that are and focus on what we can do. We have an opportunity to take advantage of the positive job numbers that existed last Friday, and let's go. Let's all work together to grow the economy."

"There is an issue here that Washington has a duty to the beneficiaries of the Social Security Trust Fund. The payroll tax is just that: it is monies that go into the Social Security Trust Fund. We should not be violating the fund. I think most people do get that Washington spends entirely too much money. We can come up with some savings given that $3 trillion a year that Washington's spends. We can come up with some savings so that the people out there with jobs know that their taxes are not going to go up."

Let's Stop Dividing, Let's Go For Multiplication, Growing The Economy:"What is very clear is that the individuals on the Republican side of the aisle have a very different philosophical view and vision of where we want to take this country than the President. That is really what is clear. What I would like to see is more focus on the part of everyone, including the President, let's stop dividing, the stop going for division. Let's go for multiplication, that's about growing the economy."

"I think that there is a firm sense among the candidates on our side of the aisle that is reflective of a belief in the private sector. We have tried the policies of stimulus, of overspending, of incurring more debt, of regulatory policies that actually reek of cronyism. We have seen they don't work. That's why we want to try something different. It is like people in their everyday lives, if something doesn't work, you stop doing it, and you try something new. That is why we are about a sensible regulatory policy and lower taxes for individuals and businesses. Let's go about growing this economy again."

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