Leader Cantor Discusses The Small Business Tax Cut Act And Pro-Growth Tax Policies On FOX, CNBC, Bloomberg
April 18, 2012
Contact: Doug Heye, Megan Whittemore

Leader Cantor On The Small Business Tax Cut And Job Growth. “Well, first of all, we're in tax week. Everybody in America has now filled their taxes out and paid the government and reminded again of the fact that Washington continues to want to take more and more of your hard-earned money. We also know that we've got a situation in the economy where we need to see more jobs created and more economic growth. How do you do that? You look to the job generators, the small businesses of America that create over 65% of the jobs. So what this bill does, the Small Business Tax Cut Act, that will come to the House floor tomorrow, it provides every small business with 499 employees or less the ability to have a 20% tax cut, straight up, money to the bottom line. So that small businessmen and women can have more money to plow back into their business, to grow their business and create jobs.” FOX and Friends

The Small Business Tax Cut Act Signals To Small Businessmen and Women That We Are On Their Side. “The [Small Business Tax Cut Act] says to the small business owner, you’re going to be able to keep 20% more of your money to plow back into your business to invest and grow. We have safeguards so there cannot be any abuse, the limit is 50% of wage income for the 20% tax cut. It sends a signal to small businessmen and women that we are actually going to be on their side. If we want to get the economy growing, you don’t raise taxes. If it is a question of fairness, why aren’t you lowering taxes for the middle class if you think they pay too high of a tax, rather than attempting to raise taxes on somebody else? We are about trying to lower taxes to create jobs. That is exactly what the bill does.” Bloomberg's Inside Track

The Small Business Tax Cut Is A First Step Towards Pro-Growth Tax Policies. “It comes down to whether they will get serious on the other side of the aisle to embrace pro-growth policies. Today, Steve Forbes is out talking about the Small Business Tax Cut as a first step towards pro-growth policies and we all know we've got to go about reforming the tax code to broaden the base, bring down the rates for everybody, and get rid of the loopholes that actually put Washington in the place of picking winners and losers through the tax code. We all know that. We also know any kind of tax reform that's been put on the table is rejected by the President and Harry Reid in the Senate because it doesn't raise taxes. All they have done is continue to say we have to raise taxes. Now look, I'm as frustrated as you are and I think that there are going to be some issues that have to be resolved through this the election, and taxes is certainly one of them. It’s a question of whether the American people will think we have a revenue problem in Washington or a spending problem. Most people say we have a spending problem.” CNBC's Squawk Box

House Republicans Are Working To Lower Tax Rates For Everybody. “The end of the year is certainly a problem and what we're doing in the House is trying to prepare for what many people are calling Taxmageddon. What we're doing right now is we're laying out a vision for the kind of tax reform that we want to see. Again, this Small Business Tax Cut is a step in the right direction. Overall tax reform means bringing rates down for everybody. We've also got this threat of the sequester that is coming, and this is something that actually will threaten our ability to defend this country. The officials at the Pentagon have said they cannot endure this kind of across the board cut and we're trying in the House to prepare for that. We'll put forward a bill in May that will actually substitute out the kind of cuts to the Pentagon with other cuts that we believe reflect the common-sense vision of how you take the country forward, how you save some of these programs and accomplish efficiencies and get rid of the waste.” CNBC's Squawk Box

We Must Focus On Helping Job-Creating Small Businesses And Startups Get Off the Ground. “Our small business culture in this country is premised on the fact that entrepreneurs are willing to put their capital at risk, are willing to go out there and attempt to earn their success. That is the backbone of the American marvel of the economy. We've got to get back into that mentality. It’s a pro-growth, competitive mentality that will end up attracting global capital here and allow entrepreneurs to flourish. Right now we’ve got too much regulation in place, we’ve got high tax burdens and the threat of even higher tax burdens, so it's holding back entrepreneurs. You're right, we’ve got to remember what has built this country and so many people who have been successful in this country tell me if they had to do it over again right now they couldn't because of the uncertainty and the price of risk being imposed by Washington.” CNBC's Squawk Box