Today, U.S. Senator Dean Heller (R-NV) issued the following statement in opposition to the Senate majority's bill to increase taxes on small businesses (S. 3412), which could cost more than 6,000 jobs in Nevada. Heller supported an alternative tax plan that would extend all current tax rates to 2014.
"Raising taxes will do nothing to create jobs in Nevada or this nation. The tax plan the majority party and the President are offering could cost Nevada more than 6,000 jobs and shrink the state's economy by $1.7 billion. Nationwide, this plan would hurt more than 700,000 jobs. This is not the economic strategy our nation needs.
"There is no question the tax code is unfair and needs an overhaul. However, in the short term, current tax rates should remain as they are. Tax proposals should be debated on a bipartisan basis and both sides should work towards finding consent on areas to increase American competitiveness. As job growth remains stagnant, Congress should focus on long-term economic solutions that boost our recovery and provide businesses the certainty they need to create jobs," said Senator Dean Heller.
A study released by the National Federation of Independent Business and conducted by the accounting firm Ernst & Young concludes the tax increases included in this bill would hurt job creation and small businesses in particular.