Reed Joins Effort to Stop Tax Increase on 940,000 Small Businesses

Statement

Congressman Tom Reed announced this morning that he is joining the "Stop The Tax Hike" effort to bring attention to the negative impact that tax increases scheduled to take effect on January 1, 2013 will have on small businesses. He made the announcement at Villager Construction, Inc. in Fairport.

"Small businesses like Villager are the key to economic recovery in upstate New York," Reed said. "Yet the President is calling for higher taxes on these job creators. The Joint Committee on Taxation estimates the tax increase would hit about 940,000 small businesses nationwide."

"At a time when unemployment remains stuck at more than eight percent or even nine percent in many upstate counties, it makes no sense to raise taxes on the job creators that are trying to grow," Reed continued. "So I am joining with dozens of my colleagues around the nation today to announce that I will be part of the Stop the Tax Hike effort."

"The more that small businesses pay in taxes, the less they have to invest in growth and new jobs and career opportunities," Reed observed. "I believe that Upstate small business owners such as Dick Clark and his team at Villager can invest and use their money more wisely to grow our economy than some Washington bureaucrat can."

According to the National Federation of Independent Businesses, small businesses surveyed in June cited taxes above poor sales as the single most important problem they are facing today.

Source