Nov 27, 2012

McCarthy Statement on Small Business Letter Asking Washington to Solve Fiscal Cliff Through Tax Reform

Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement regarding a letter sent to Congressional leadership by a coalition representing millions of small businesses and tens of millions of jobs across the country. In the letter, the coalition calls on Congress to take action to prevent raising marginal tax rates on small business owners, while also addressing the primary driver of our fiscal crisis: entitlement spending. The coalition encourages Congress to address the fiscal cliff with solutions that promote economic growth, rather than those that would hinder small business job creation:

β€œThe role of small businesses in our economy must never be understated – they are the engine of job growth in this county, and their voice belongs at the table. As a former small business owner myself, I understand the challenges they face in this economy. Uncertainty over tax rates is keeping small businesses from expanding and hiring new workers. In the letter Congressional leadership received today, these small businesses outline the dangers posed by raising marginal tax rates, and failing to address the out-of-control spending that is fueling our debt crisis. In order to keep our economy innovative and competitive, we must have an approach that will prevent rate increases while we reform our broken tax code and reduce the debt burden on hard-working Americans.”