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Public Statements

Small Business Tax Cut Act

Floor Speech

Location: Washington, DC


Ms. VELÁZQUEZ. Mr. Speaker, I rise in opposition to this legislation. There is nothing in this bill specifically for small businesses. Instead, this is another attempt to award tax breaks to the wealthy. In fact, millionaires will receive nearly half of the benefit from this legislation, while true small businesses accrue only 10 percent. Once again, as the largest corporations get fatter, small businesses have to struggle for scraps.

Small, fast growing startups, which often have little tax liability, would see no tax savings--yet these are the firms most likely to create jobs. Even worse, this plan would give tax breaks to companies shedding employees--exactly the wrong incentive. Finally, this bill does nothing to address small business owners' top concern--a lack of demand for their goods and services. A real small business bill would tackle that problem.

This is not a small business bill--it is a millionaire's tax break bill. Vote no so we can focus on real solutions to small businesses' needs.


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