Congressman Cantor Responds to President Obama's Plan to Raise Taxes on Families & Small Businesses

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RICHMOND, VA – Congressman Eric Cantor (VA-07) today issued the following statement in response to President Obama’s event in Virginia:

“The last thing working families and small businessmen and women in the Commonwealth need is a tax hike courtesy of President Obama, especially at a time when jobs must be our focus. Increasing taxes on Virginia’s business people and job creators, whom we need to grow our economy, is the wrong prescription and completely misses the mark. I’m disappointed that once again the President did not offer specifics about how to put America on a path to pay down our debt, did not outline a plan to save entitlement programs for future generations, or offer a single proposal to increase jobs.

“We must tackle our nation’s debt crisis head-on, but it is going to require political courage, honesty and working together on serious solutions. That’s why House Republicans have offered an honest, fact-based budget that pays down our debt over time and grows our way back to prosperity. It stops the government from spending money that it doesn’t have and focuses on private sector job growth so that people can get back to work. Cutting spending alone is only half of the remedy for fiscal health, which is why our budget also stresses fundamental tax reform. A more competitive and simpler tax system will get our economy churning, create jobs and spur investment in the private sector.

“The President’s plan to increase taxes is a direct assault on job creation and innovation that could throw our economy in reverse. Virginians don’t want their taxes raised, what they want is for Washington to start getting serious about its finances, which is why President Obama should work with us to cut spending, reform our tax code and rule out raising taxes."

 

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