Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement marking today as Tax Day:
“The best way to grow our economy and spur job creation is by letting Americans keep more of what they’ve earned. The tax burdens that hard-working families and small businesses face are sapping capital and investment from our economy that is critical to economic growth and job creation. Yet, time and time again, the President and Washington Democrats have insisted on raising taxes. The last place Americans need to send more of their hard-earned money is Washington D.C.
“The constant threats made by President Obama and Congressional Democrats to raise taxes have caused even more uncertainty, which has stymied economic growth and job creation. Worse, the President’s tax agenda is simply made up of election year political gimmicks, meant only to pit Americans against each other, and does nothing to solve the fiscal and economic challenges we face. Under the so-called ‘Buffett Rule’, it would take 250 years to simply pay off the President’s budget deficit from last year. Additionally, the $1.9 trillion tax hike the President proposed in his budget would raise taxes on 30 million small businesses.
“The contrast in priorities could not be clearer, as this week, Republicans continue our efforts to bring relief to small businesses, entrepreneurs and hard working families by bringing the Small Business Tax Cut Act to the floor of the House. Allowing small businesses to deduct 20 percent of their annual earnings will allow them to keep more of their own money in order to grow their businesses and hire new workers. We hope President Obama and Congressional Democrats will join Republicans and the large majority of Americans who support this legislation, so that we can get Americans back to work.”