WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) released the following the statement on a new study by Ernst & Young showing the President’s small business tax hike will cost the economy more than 700,000 jobs:
“Fewer jobs are the last thing the American people need, but that is exactly what will happen under the President’s small business tax hike according to a new study out today from Ernst and Young. While the President continues to call for higher taxes on the small businessmen and women who we’re counting on to hire, House Republicans will vote to stop the tax hike on small businesses and working families. This report adds to the slew of recent economic indicators showing that the President’s policies are the wrong remedy for the ailing economy. We must return to pro-growth solutions and lower taxes to boost small business job creation.”
The Ernst & Young study finds the President’s small business tax hike would result in fewer jobs and lower wages if implemented. Read the full study here.