Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement regarding House passage of the Small Business Tax Cut Act (H.R. 9):
“Economic growth and job creation in America is powered by small businesses and entrepreneurs. Small business makes up 99.7% of all private sector employers and is responsible for 65% of all job creation in this country. They are the lifeblood of our economy. However, Washington, now more than ever, has become a deterrent to their success. As a direct result of the President’s and Washington Democrats’ tax-and-regulate agenda, small businesses and entrepreneurs have been sapped of capital needed to expand their business and hire new employees.
“As a former small business owner, I know how costly government-constructed barriers can be to the success of a small business. In order for a business to expand and hire new workers, they need additional capital – the Small Business Tax Cut Act allows small businesses to keep more of what they make to invest in expansion and new hiring. This is common sense. I hope that the President and Senate Democrats join House Republicans in our continued efforts to spur economic growth so we can get Americans back to work.”