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Congressman Canseco Visits South San Antonio Small Business, Discusses Preventing Looming Tax Increases on American Families and Small Businesses
Dec 19, 2012
“We’re one tax increase away from slipping back into recession, not an economic recovery.”
San Antonio, TX – Congressman Francisco “Quico” Canseco (TX-23), a former small business owner and strong supporter of pro-growth economic policies, released the following statement after his visit today to a family-owned small business, Don Pedro’s Mexican Restaurant in San Antonio. Congressman Canseco’s visit was part of the nation-wide Stop the Tax Hike Day, in which a coalition of members of the House of Representatives led by House Majority Whip Kevin McCarthy (CA-22) held events nation-wide with small businesses, to discuss the impact the looming tax increases would have on their businesses and the House of Representatives’ plan to stop them from going into effect.
“President Obama’s economic policies of attempting to spend, tax, and regulate our way to economic prosperity have resulted in 41 consecutive months with an unemployment rate above 8% - the worst unemployment crisis since the Great Depression. President Obama and his liberal allies in Washington have called for doubling down on those failed policies by proposing to permanently raise taxes on hard-working American families and small businesses. While the rhetoric is that these tax increases will only fall on the “rich”, in reality they will fall hardest on job creators. In fact, the most recent Internal Revenue Service data shows approximately two-thirds of all pass-through business income – which is how 75% of small businesses pay taxes, according to the National Federation of Independent Business – was reported by taxpayers making more than $250,000.”
“While it never makes sense to raise taxes, it certainly doesn’t make sense raising taxes at a time when our economy is stuck in neutral and job creation is stagnant. In fact, according to a report released by the accounting firm Ernst & Young, President Obama’s tax increases will result in more than 710,000 jobs lost. We’re one tax increase away from slipping back into recession, not an economic recovery.”
“Don Pedro’s Mexican Restaurant in San Antonio is like the countless other small businesses across America that will be negatively impacted by President Obama’s proposed tax increases. However, it won’t be just the owners of Don Pedro’s, the Sepulveda family, that will be hurt by these tax increases. These tax increases will also impact Don Pedro’s over 150 full and part time workers serving over 12,500 customers on average per week, as well as the local community that benefits from the restaurant’s generosity – all of which exist because of Don Pedro’s success as a business. That is why next week, the House of Representatives will vote to stop the looming tax increases for all Americans. In the House, we understand that you cannot help the job seeker while punishing the job creator.”
Don Pedro’s Mexican Restaurant is located on the South Side of San Antonio, and has been family-owned by the Sepulveda family for over 40 years.
Congressman Francisco “Quico” Canseco (TX-23), a former small business owner, meets with the owner of Don Pedro's Mexican Restaurant Ruben Sepulveda and the President of the South San Antonio Chamber of Commerce Mr. Tom Shaw during the Stop the Tax Hike Day event in San Antonio.
To schedule an interview please contact Kyler Arnold at (202) 225-4511 or Kyler.Arnold@mail.house.gov