Congressman Canseco's Statement on Small Business Tax Cut Act (H.R.9)

Apr 19, 2012

 

"Small businesses don’t need to send more money to Washington, they need to send less and keep more of their money to invest in their priorities, instead of Washington’s.”
 
Washington, D.C. – Congressman Francisco “Quico” Canseco (TX-23), a former small businessman and a member of the House Financial Services Committee, released the following statement on today’s passage of the Small Business Tax Cut Act (H.R. 9), of which he is a co-sponsor: 
 
“Over the past year, my constituents throughout the 23rd District of Texas have given me a clear message: Congress’ top priority should be getting our economy back on track and creating jobs. One of the best ways to do that is by helping small businesses be created or expanded. Small businesses are the jobs engine of America. They represent over 99% of all employer firms, employ half of all private sector employees, and accounted for 65% of all jobs created between 1993 and 2009. The Small Business Tax Cut Act will allow small businesses to deduct 20% of their income from taxes. Letting small businesses keep more of their money instead of sending it to Washington will enable them to grow and create jobs. According to one study, the Small Business Tax Cut Act would grow our economy by over $100 billion and create almost 200,000 jobs,” said Congressman Canseco. 
 
“While the United States Senate spent the week focused on trying to raise the taxes of small businesses by attempting and failing to pass the so-called “Buffett Rule,” the House of Representatives was focused on passing the Small Business Tax Cut Act, which will cut taxes for small businesses and provide much needed relief during these tough economic times caused by the failure of President Obama’s policies. The strategy of President Obama, Nancy Pelosi, and Harry Reid has been to try and spend and tax our way to economic prosperity, but that approach hasn’t worked. Small businesses don’t need to send more money to Washington, they need to send less and keep more of their money to invest in their priorities, instead of Washington’s,” concluded Congressman Canseco.
To schedule an interview please contact Kyler Arnold at (202) 225-4511 or Kyler.Arnold@mail.house.gov