Jobs Groups Warn About President’s Plan

Jobs Groups Say ‘New Tax Increases On America’s Biggest Job Creators Are The Last Thing This Economy Needs’

 

‘Would Be A Devastating Blow,’ ‘Sends A Bad Message To Job Creators’

US CHAMBER OF COMMERCE: “Targeting proven job creators is not the way to drive job or economic growth...” “‘Real tax reform is different than simply subjecting businesses to tax increases,’ said Caroline Harris, chief tax counsel at the U.S. Chamber of Commerce. ‘Targeting proven job creators is not the way to drive job or economic growth… It kills the very economic growth we need to truly get out of this situation.’” (“Obama Vs. Business: Fight Brewing Over Tax Hikes,” The Fiscal Times, 9/19/11)

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: “[T]his plan sends a bad message to job creators.” “New tax increases on America’s biggest job creators are the last thing this economy needs to get back on track. At least 75 percent of small businesses file taxes on business income at the individual rate, and reinvest those earnings to grow the business and hire workers. With small businesses still struggling to recover and grow, this plan sends a bad message to job creators.” (NFIB, Press Release, 9/19/11)

NATIONAL ASSOCIATION OF MANUFACTURERS: “[H]igher taxes on these job creators would be a devastating blow.”  “President Obama’s call for tax increases on small businesses, individuals and investors is a poison pill for our economy. The bottom line is that manufacturers need policies that enable them to hire more workers, make capital investments and expand their businesses. More than 70 percent of manufacturers operate as S-corporations and pay income tax at the individual rate, so higher taxes on these job creators would be a devastating blow. The President’s proposal is short-sighted; we should not attempt to solve our nation’s fiscal ills on the backs of businesses striving to expand and add jobs.” (NAM, Press Release, 9/19/11)

BUSINESS ROUNDTABLE: “The uncertainty created by the threat of even higher taxes helps neither job creation nor growth.” “‘With the current, anemic economic conditions, the unemployment rate will remain consistently high and tax receipts will remain low unless the focus shifts to long-term policies and economic growth,’ [John Engler, president of Business Roundtable] said. ‘The uncertainty created by the threat of even higher taxes helps neither job creation nor growth.’” (Business Roundtable, Press Release, 9/19/11)

 

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SENATE REPUBLICAN COMMUNICATIONS CENTER