Congressman Marsha Blackburn (TN-7) today issued the following statement regarding House passage of H.R. 8, the Job Protection and Recession Prevention Act.
This legislation stops the tax hike that is set to hit American families and small business owners on January 1, 2013. The Republican plan will boost economic growth and create the environment for jobs growth by enacting comprehensive tax reform next year that closes special-interest loopholes, and makes the tax code simpler and fairer for families and employees.
"Our economy is stalled and small business owners are losing confidence every day. A recent survey released by the NFIB indicates that small business optimism is at its lowest level since last October. Eighty percent of the small businesses surveyed said they haven't made any hiring changes and they aren't going to be hiring any time soon. According to a report released by Ernst & Young, the Obama tax hike will cost our economy more than 700,000 jobs. We can't let that happen, and Republicans have the only plan in Washington to stop this tax hike in its entirety.
"Small business owners in Tennessee are always telling me they have too much month left at the end of their money. The Obama tax hike will only make things worse for these small business owners. I think my constituent Rocky Janda, who is owner of P.O.P. Solutions Group and a member of the NFIB, summed it up best, saying: "The less money people have to spend the less we will get -- this is so obvious.' That is why I am fighting to stop the Obama tax hike before it hits families and small business owners on January 1.
"The Obama economy is stifling the ability of American families and small businesses to achieve their goals and dreams. Raising taxes will not solve our debt crisis and it will devastate small businesses. America was built on the backs of hard-working entrepreneurs. You don't punish the innovators who built it!
"Our small businesses should be able to spend more time with customers and less time having to deal with the IRS. This legislation will ensure that the 'Mom and Pop' shops get to keep more of their money to invest and grow jobs in their communities."