Congressman Sam Graves (MO-06) issued the following statement today regarding President Obama's FY2014 budget which was released today, more than nine weeks past the February 4th deadline:
"With the federal debt now more than $16.7 trillion, and nothing but yearly deficits ahead, I had hoped that the President would do more to address our nation's fiscal irresponsibility. Instead, this budget does not balance, it raises taxes, and it does more to grow the government, instead of growing the economy.
"This budget's $1.1 trillion in tax increases is debilitating for small companies who are already facing new requirements and taxes from the health care law and $600 billion from the president's New Year's tax hike," added Graves, Chairman of the House Small Business Committee. "These aren't just tax increases on the wealthy, they actually represent a tax hike on small businesses that are organized as "pass-through' entities, where business income is passed through to the personal returns of the owner for taxation. Small businesses -- the engine of job creation -- cannot operate and plan ahead under this type of fiscal stewardship."