Obama-Pelosi Tax Hikes Set to Kick In Unless Congress Acts
Washington- Colleen Hanabusa’s Washington friends have already made it clear that they aren’t looking out for the interests of small businesses, but with unemployment at 9.6 percent will House Democrats really go so far as to raise taxes on the nation’s largest employers? With party boss Nancy Pelosi’s recent support for raising taxes on small businesses, it appears they will. While the nation’s poverty rate has recently hit a high of 14.3 percent and middle-class families are struggling to get by, the last thing they need is for out-of-touch Washington Democrats to hit their employers with job-killing tax hikes. Given the dire state of the economy, the out-of-touch majority owes it to Hawaii families to support an up or down vote on stopping any and all tax hikes from occurring before Congress adjourns.
“Americans are facing one of the worst recessions in generations and Colleen Hanabusa’s Washington friends want to raise taxes on the nation’s largest employers,” said NRCC Communications Director Ken Spain. “This out-of-touch Democrat majority has already done enough harm to the economy, but piling on massive tax hikes on to the backs of small business owners could devastate the job market. With the days counting down until Congress adjourns, Hawaii families deserve to know: Will Democrats vow to stop any and all tax hikes before skipping town?”
“Pelosi told her weekly news conference that she supports President Obama’s proposal to maintain the reduced tax rates for people earning $250,000 a year or less, while allowing the Bush-era tax cuts to expire for those who make more.
“Thirty-one House Democrats, most of whom face tough re-election bids this fall, have signed a letter to Pelosi and House Majority Leader Steny Hoyer urging them to extend expiring tax breaks for all income levels, including the wealthy.” (Dierdre Walsh, “Some Democrats break with leaders on tax cuts.” CNN, 9/16/2010)
While Democrats are struggling to make a decision, uncertainty about their looming tax-hikes is adding pressure to the economy.
“Congress’ inability to make a decision about the fate of Bush-era tax cuts is contributing to the unemployment crisis facing the country, according to the Labor Day 2010 report by the National Association of Manufacturers (NAM).
“‘Small businesses are America’s job creators, responsible for 60 percent of the net new jobs created in the last decade,’ the report states. ‘But uncertainty about looming tax hikes has stunted employment growth and until Main Street begins to hire, the unemployment rate will remain unacceptably high.’” (Jay Heflin, “Uncertainty of Bush tax cuts affects hiring, study states,” The Hill, 09/02/10)
The National Republican Congressional Committee statement is not authorized by any candidate or candidate’s committee. For more information, contact www.nrcc.org.