The President and his Administration continue to believe that they can tax their way into economic growth and job creation. The facts are clear: millions are out of work and America is experiencing its longest stretch of unemployment since the Great Depression.
House Majority Leader Cantor issued the following statement in response to President Obama's call to raise taxes on small businesses:
“On the heels of another devastating jobs report, President Obama has doubled down on bad policy by calling for tax hikes on working families and small businesses. With unemployment stuck above 8 percent and millions of Americans out of work, the last thing our nation’s small businesses and families need are higher taxes. Two years ago, President Obama said extending these same tax rates was ‘the right thing to do’ for the middle class, for jobs and for small businesses. Today, he is reversing this position and calling for a tax hike on the very small businessmen and women we’re counting on to get the economy going.
“Keeping taxes low is still ‘the right thing to do’ to get the economy growing again. Small businesses who are struggling to make payroll and working families who have tightened their belts to meet their budgets cannot afford to be hit with a massive tax increase come January. The House will vote the last week of July to ensure taxes don’t go up on anybody.”