Leader Cantor: We Believe You Ought To Reduce Taxes On Small Businesses To Create Jobs
April 17, 2012
Contact: Doug Heye, Megan Whittemore
202-225-4000

“Good morning, when I was home in my district over the last couple of weeks, all I heard about were gas prices and jobs. This week, we are acting in the House to address both of those issues on behalf of the American people. Tomorrow, as the Speaker indicated, we are going to be voting on a bill that points directly to the issue of gas prices in terms of trying to change the policy in Washington towards affording more energy security, so we can send the signal to the markets to bring down the prices.

“On Thursday, we are going to be bringing up our Small Business Tax Cut Act. As the Speaker indicated, this is a bill which will directly help small businesses create jobs. The Senate voted last night and the Democrats brought up their priority, which was to raise taxes. We believe you ought to reduce taxes on small businesses to create jobs. In fact, there is a study out which shows that this bill when fully implemented will create an additional 100,000 plus new jobs each year. The beneficiaries of this policy are small businesses and a third of those small businesses are women-owned businesses. If we are going to get people back to work, we have got to help the job engine that produces those jobs, which is small businesses.”

Q & A:

“I know that the other side likes to dictate to businesses what they do with their capital. What we say is if we can afford small businesses just a little easier time in terms of managing their affairs; they’ll hire more people, they’ll invest in capital equipment, which then sends more money, opportunity and demand into the economy that will create jobs. We are about making sure that people can see wages increase again and jobs increase again.

“We’re not saying this is the panacea for everything, because we want to see tax reform occur to bring down rates for everybody. But since the other side will not join us in an honest tax reform discussion, what we believe is right now, it is urgent that we help our job creators because most Americans say we should be focusing on jobs and the economy. Again, this week is a telltale sign. The Democrats believe you raise taxes to create jobs, we believe you help small businesses by giving them a tax cut to create jobs.”